US benzene prices at yearlong lows on ample supply, weak markets

27 June 2013 21:11  [Source: ICIS news]

HOUSTON (ICIS)--Prompt US benzene spot prices have declined to their lowest levels in a year, hovering on either side of the $4.00/gal ($1,197/tonne, €922/tonne) mark this week, trade participants said on Thursday.

The drop in benzene spot prices has been attributed to ample benzene supplies, lower prices in Europe and Asia and thin demand.

Benzene spot prices were at $4.01-4.10/gal FOB (free on board) on Thursday, down from $4.18-4.28/gal FOB at Monday.

Bids were seen below $4.00/gal briefly this week before rebounding to $4.01/gal on Thursday afternoon. Offer levels, though, have been well above the $4.00/gal level.

Benzene bid/offer levels have not been below $4.00/gal since May 2012.

($1 = €0.77)

By: Brian Balboa
+1 713 525 2653

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