26 September 2012 19:09 [Source: ICIS news]
HOUSTON (ICIS)--The US October benzene contract is expected to move higher by the end of the week, reflecting the jump in spot prices during September, according to trade sources on Wednesday.
Current benzene spot prices are at $4.42-4.48/gal ($1,323-1,341/tonne, €1,019-1,033/tonne) FOB (free on board), compared with the September contract settlement of $4.20/gal FOB.
The jump in spot prices came on perceived tightness early in the month following exports to Europe.
Market participants have projected an October benzene contract settlement within a range of $4.40-4.45/gal.
($1 = €0.77)
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