31 July 2012 21:29 [Source: ICIS news]
HOUSTON (ICIS)--The August US benzene contract settled at an all-time high of $4.60/gal ($1,377/tonne, €1,129/tonne), up 30 cents/gal from the July, trade participants said on Tuesday.
The increase comes on the back of record high spot prices seen in July, which were attributed to tight supply positions held by traders. It also represented the second consecutive increase for benzene contracts, due to record high spot prices.
Benzene spot prices in July achieved a record high of $5.30-5.50/gal FOB (free on board) before moderating towards the end of the month.
Current benzene spot prices were at $4.55-4.85/gal FOB.
($1 = €0.82)
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