Tight supplies lead US benzene to start 2013 at record high

02 January 2013 17:08  [Source: ICIS news]

HOUSTON (ICIS)--The US benzene market kicked off 2013 with a record high contract settlement, which came on the back of tight supplies and higher spot prices, according to trade sources on Wednesday.

The January benzene contract settled at $5.16/gal ($1,544/tonne, €1,174/tonne) FOB (free on board) up by 23 cents/gal from the December contract price of $4.93/gal FOB.

It was also the third consecutive increase for the US benzene contract in which the settlement was established at a record high.

Heading into 2013, many trade participants have said they believed the US benzene market would remain strong, citing the tight supply availability and continued global financial situation.

($1 = €0.76)

By: Brian Balboa
+1 713 525 2653

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