30 November 2012 09:46 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s JX Nippon Oil and Energy has settled its benzene Asian Contract Price (ACP) for December at $1,430/tonne (€1,101/tonne) on Friday, higher by $145/tonne from its November settlement price, said a company source.
The ACP is on a cost & freight (CFR) Asia basis.
Benzene ACP has been on a steady increase since July because of continued tightness in regional supply.
Lukewarm demand from downstream styrene monomer (SM) sector is being balanced out by growing consumption from the phenol, adipic acid and caprolactam sectors, in line with the expected start-ups of new plants next year.
($1 = €0.77)
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