Japan's JX Nippon Oil settles July benzene ACP $60/tonne lower

29 June 2012 12:01  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s JX Nippon Oil has settled its benzene Asian contract price (ACP) for July at $1,020/tonne (€816/tonne), down by $60/tonne from June settlement, a company source said on Friday.

The July ACP is on a cost and freight (CFR) Asia basis.

The lower contract price for July was in line with recent steep declines in benzene spot prices in Asia, the source said.

Demand for benzene from key downstream sectors like styrene monomer (SM) weak at present, he said.

Spot benzene prices in Asia were hovering at $1,050-1,065/tonne FOB (free on board) Korea on Friday, according to ICIS.

($1 = €0.80)

By: Mahua Chakravarty
+65 6780 4359

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