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.
The EPCA meeting runs from 5-9 October.
($1 = €0.74)
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