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)
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