Asia benzene plunges $17-20/tonne as Europe market opens lower

03 December 2013 11:19  [Source: ICIS news]

SINGAPORE (ICIS)--Spot benzene prices in Asia fell $17-20/tonne (€13-15/tonne) in early evening trade as the European market opened lower, market players said on Tuesday.

After 09:30 GMT, a January deal was settled at $1,325/tonne FOB (free on board) Korea and a February fixture was done at $1,310/tonne FOB Korea, traders said.

“Bids opened $10/tonne lower in the European market,” a South Korean trader said.

At 09:00 GMT, Asian benzene prices closed at $1,342-1,348/tonne FOB Korea for January loading and at $1,326-1,330/tonne FOB Korea for February cargoes, according to ICIS.

($1 = €0.74)

Author: Ong Sheau Ling

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