US May benzene contract expected higher

29 April 2013 21:22  [Source: ICIS news]

HOUSTON (ICIS)--The May benzene contract settlement is expected to increase by 12-14 cents/gal ($36-42/tonnes) this week on the back of stronger spot prices in April, trade participants said on Monday.

Benzene spot prices had been moving up for much of April on the back of stronger energy prices, higher benzene prices overseas and some short-cover positions earlier in the month.

Current benzene spot prices were discussed at $4.44-4.51/gal FOB (free on board) today, up from $4.26-4.33/gal FOB on 1 April.

The spot range was also up from the April benzene contract price of $4.36/gal FOB.

Benzene contracts typically settle on the final day of the month.

By: Brian Balboa
+1 713 525 2653

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