24 March 2013 17:59 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--The April benzene contract settlement is expected to come down on the back of improved supply conditions and a weaker overseas market, US aromatics trade sources said on Sunday.
Speaking on the sidelines of the American Fuel & Petrochemical Manufacturers' (AFPM) International Petrochemical Conference (IPC) in San Antonio, Texas, trade participants also cited the recent decline in US benzene spot prices as a reason the April benzene contract should come down.
Current US benzene spot prices are at $4.28-4.35/gal ($1,281-1,302/tonne, €986-1,003/tonne) FOB (free on board), down from spot levels of $4.65-4.80/gal FOB at the start of March.
The March benzene contract price was settled at $4.69/gal FOB, down by 11 cents/gal from the previous month.
The April benzene contract price is expected to settle at the end of March.
The IPC takes place from Sunday through Tuesday in San Antonio.
($1 = €0.77)
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