Prompt US spot benzene shifts to more expensive April delivery

27 March 2013 22:32  [Source: ICIS news]

HOUSTON (ICIS)--With March drawing to a close this Sunday, US benzene trade sources said  on Wednesday that they have already shifted to trading April benzene, which has been at a premium.

Prompt delivery for benzene is typically up to five days from the time a deal is agreed upon.

March benzene has not been discussed or traded this week.

A week earlier, the benzene market was in contango as April and May prices were above March.

April benzene spot levels were about 5-15 cents/gal above March prices last week, while May prices ranged from 10-23 cents/gal above March levels.

So far this week with May prices have been discussed at 4-7 cents/gal above April prices.

Current benzene prices are at $4.30-4.40/gal ($1,287-1,317/tonne, €1,004-1,027/tonne) FOB (free on board) for April.

($1 = €0.78)

By: Brian Balboa
+1 713 525 2653

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