23 May 2013 21:46 [Source: ICIS news]
HOUSTON (ICIS)--US benzene trade participants have shifted to slightly more expensive June timing in the spot market, sources said on Thursday.
May benzene spot price discussions have been thin during the week with no trades heard.
May benzene spot prices were last discussed on 17 May at $4.43-4.48/gal ($1,326-1,341/tonne) FOB (free on board). At the time, June prices were 5 cents/gal higher.
There had been no May discussions since.
Current June pricing is at $4.43-4.46/gal FOB.
Current July spot levels were at parity with June, with some trade sources suggesting that the benzene market was moving into backwardation.
The benzene market has been in contango since January of this year.
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