25 July 2011 11:03 [Source: ICIS news]
SINGAPORE (ICIS)--Japanese producer JX Nippon Oil & Energy has nominated a $170/tonne increase in its benzene ?xml:namespace>
The August ACP at $1,230/tonne (€861/tonne) CFR (cost and freight)
Strong crude futures and improvement in regional demand-supply balance in the benzene market have been pushing prices of the aromatics product higher over the past two weeks.
Spot benzene prices in Asia were at $1,175-1,185/tonne FOB (free on board)
US crude futures, meanwhile, were hovering at above $99/bbl on Monday.
The demand-supply balance for benzene in this region also improved, which was also supporting the price and market overall, the source added.
($1 = €0.70)
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