EPCA ’13: Europe benzene sentiment uncertain for Q4

07 October 2013 09:01  [Source: ICIS news]

BERLIN (ICIS)--The outlook for European benzene remains unclear in a thin and lacklustre market, although there is an expectation that prices could edge down further, sources said on Monday.

“The US market will continue to drive global pricing,” said one trader, speaking on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting. “With aromatics numbers falling there and some upcoming styrene turnarounds, we could see some easing of prices into the fourth quarter.

Following the €51/tonne reduction on the October European benzene contract, settled at a dollar value of $1,254/tonne, spot pricing came down further amid limited Asian spot activity and weaker crude oil numbers.

“It’s also the wider economic picture,” explained another source. “Nobody has too much confidence right now. Phenol demand is still poor and styrene is starting to really move down.”

The EPCA meeting runs from 5-9 October.

($1 = €0.74)

By: Truong Mellor
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly