01 April 2013 05:08 [Source: ICIS news]
SINGAPORE (ICIS)--Japan's JX Nippon Oil and Energy concluded its benzene Asian Contract Price (ACP) for April at $1,302/tonne (€1,016/tonne) late on 29 March, 8% down from March, a company source said.
The ACP is on a CFR (cost & freight) Asia basis.
Spot prices fell by $112/tonne, or 8.1%, over the month of March, according to ICIS data.
Subdued demand from China because of high stock levels and from the US because of the absence of arbitrage opportunities was the main bearish factor, market players said.
($1 = €0.78)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections