11 July 2012 11:37 [Source: ICIS news]
SINGAPORE (ICIS)--Asia’s spot benzene prices extended their gains, adding $15-20/tonne (€12-16/tonne) at the close of trade on Wednesday, in line with spikes in the US benzene values overnight, market sources said.
Prices were assessed at $1,175-1,190/tonne FOB (free on board) ?xml:namespace>
On Tuesday night, US benzene prices firmed up to $5.00-5.25/gal or $1,495-1,570/tonne FOB Barges.
Offers for August loading in Asia were at $1,200/tonne FOB
A deal for August loading was heard at $1,175/tonne FOB
Market sentiment was also bolstered in late afternoon trade as European benzene prices opened higher on the back of tight supply for July, market sources said.
European benzene prices were at $1,320-1,350/tonne CIF (cost, insurance and freight) ARA (Amsterdam, Rotterdam, Antwerp), up by $40-55/tonne from Tuesday’s close.
($1 = €0.82)
Additional reporting by Truong Mellor
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