27 July 2011 16:59 [Source: ICIS news]
HOUSTON (ICIS)--Stronger benzene spot prices during the month of July are pointing to a higher August contract settlement expected later in the week, trade sources said on Wednesday.
Benzene contract settlements are usually driven by spot price direction in the last two weeks of the month.
One aromatics trader said it expects benzene to settle near the $4.12/gal ($1,233/tonne, €851/tonne) mark, while another trader said it expects a slightly higher settlement at $4.15/gal.
Current prompt benzene spot prices are at $4.12-4.16/gal FOB (free on board), up from $3.70-3.75/gal on 1 July. The current spot price was also up from the July benzene contract settlement of $3.69/gal.
($1 = €0.69)
For more information on benzene, visit ICIS chemical intelligence
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