Asia benzene, toluene spot prices down $20-25/tonne on crude

07 May 2012 12:23  [Source: ICIS news]

SINGAPORE (ICIS)--Asian benzene and toluene spot prices fell by $20-25/tonne on Monday on the back of a sharp decline in WTI crude futures to $97/bbl over the weekend, market participants said.

Benzene prices in Asia were assessed at $1,175-1,180/tonne FOB (free on board) Korea, $25/tonne (€19/tonne) lower compared with the closing price on 4 May, according to ICIS.

Deals were done for June loading at $1,180/tonne FOB Korea and for July loading at $1,170/tonne FOB Korea.

A similar downturn was seen in the Asian toluene market, with prices falling on a US dollar as well as on a Chinese yuan basis.

Spot prices were assessed at $1,180-1,190/tonne FOB Korea on Monday, $20-25/tonne lower than the previous closing price.

Offers for June loading at $1,195/tonne FOB Korea were countered by bids at $1,175-1,180/tonne FOB Korea.

In the east China market, ex-tank prices also slipped by yuan (CNY) 50-75/tonne ($8-12/tonne) from 4 May to CNY9,225-9,500/tonne on Monday.

($1 = €0.76, $1 = CNY6.29)

By: Mahua Chakravarty
+65 6780 4359

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