US toluene dips below $4.00/gal on fundamentals

20 September 2013 22:47  [Source: ICIS news]

HOUSTON (ICIS)--US nitration-grade (n-grade) toluene spot prices have dropped below the $4.00/gal (€0.78/litre) mark this week on the back of weaker energy prices, a spate of imports arriving in the US and lower blend values, according to trade sources on Friday.

Although the drop in toluene prices was in line with other aromatics markets during the week, toluene saw a more pronounced decline.

Benzene and mixed xylene (MX) aromatics spot markets were down mostly on the back of weaker NYMEX energy futures, rather than expected import arrivals.

The week ended with n-trade toluene prices at $3.80-3.98/gal FOB (free on board), down by 22-33 cents/gal from $4.13-4.20/gal FOB a week earlier on 13 September.

Demand was soft for much of the week, and activity was held to a single toluene spot deal heard early in the week at $3.96/gal for September.

Prior to this week’s decline, n-grade toluene prices had been moving up for just over a month on the back of supply expectations as aromatics producers begin a three-month turnaround season.

($1 = €0.74)

By: Brian Balboa
+1 713 525 2653

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