25 April 2013 21:18 [Source: ICIS news]
HOUSTON (ICIS)--US benzene trade participants have shifted to May activity this week, according to trade participants on Thursday.
April benzene activity has been thin during the week with no fresh trades heard.
May benzene prices have also been at a premium to April prices during the month.
May benzene prices were as high as 9 cents/gal ($21/tonne), above April prices at the start of the month.
This week, May prices were 6 cents/gal above April before traders shifted completely to May pricing.
Current May benzene spot prices are at $4.44-4.52/gal FOB (free on board), up from $4.26-4.33/gal FOB on 1 April.
The current benzene spot prices are also above the April benzene contract price of $4.36/gal FOB.
The stronger May benzene prices were also in line with expectations that the market will be stronger heading into the summer.
($1 = €0.77)
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