30 July 2013 22:04 [Source: ICIS news]
HOUSTON (ICIS)--The US August benzene contract is expected to settle at a slight increase, according to trade sources on Tuesday, citing higher spot prices.
The recent uptick in benzene prices was prompted late this month on the back of strong downstream demand from styrene producers and reduced imports of late, which have eased excessive supply in the country.
Current benzene spot prices are at $4.10-4.14/gal ($1,227-1,239/tonne, €920-929/tonne) FOB (free on board), above the July benzene contract price of $4.07/gal FOB.
The benzene contract typically settles at the end of the month.
($1 = €0.75)
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