US Dec benzene settles at record high for second month in a row

30 November 2012 17:16  [Source: ICIS news]

US Dec benzene settles at record high for second month in a rowHOUSTON (ICIS)--The December benzene contract settled at a record high price of $4.93/gal ($1,476/tonne, €1,137/tonne), up by 3 cents/gal from the previous month, trade sources said on Friday.

The contract also represented a second consecutive record high, as supply has been tight and spot prices have increased in the final week of November leading up to the December contract settlement.

However, aromatics trade participants had been divided early in the week as to which direction the US December benzene contract would move.

A couple of aromatics trade participants said they expected the December benzene contract to move slightly down to within a range of $4.75-4.85/ FOB (free on board).

Other trade sources were calling for a slight increase.

Benzene contracts typically follow the direction of the spot market in the final week of the month.

($1 = €0.77)

By: Brian Balboa
+1 713 525 2653

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