NPRA ‘11: Sources point to likely drop in US benzene contract

28 March 2011 00:24  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS)--The US April benzene contract is likely to settle down following the recent decline in spot prices, aromatics sources said on Sunday at the International Petrochemical Conference (IPC).

Benzene spot prices during the final two weeks of the month are key indicators of where contracts may settle.

Friday’s prompt spot levels in the US were at $3.79-3.81/gal ($1,134-1,140/tonne/€805-809/tonne) FOB (free on board), down from the March contract price of $4.39/gal FOB.

Market participants are expected to begin April benzene contract discussions during the IPC.

No April benzene contract nominations have been disclosed.

“I wouldn’t be surprised if ExxonMobil did not come out with a price nomination,” said one aromatics producer.

US benzene producers include BP, ExxonMobil, Flint Hills Resources, LyondellBasell, Shell and Total.

Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.

($1 = €0.71)

For more on benzene visit ICIS chemical intelligence

By: Brian Balboa
+1 713 525 2653

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