23 October 2013 20:34 [Source: ICIS news]
HOUSTON (ICIS)--Prompt US benzene spot prices have established a 16-month low this week, as the market continues to see downward pressure from technicals, according to trade sources on Wednesday.
Current benzene spot prices are at $3.90-3.94/gal ($1,167-1,179/tonne, €852-861/tonne), with the decline in benzene spot prices into its seventh week.
Benzene prices haven’t been below $4.00/gal since late May/early June 2012.
The drop in benzene was also in line with weaker prices seen in other aromatics, which have been coming down back of weaker markets overseas, lacklustre NYMEX energy futures and readily available supply.
($1 = €0.73)
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