US January benzene contract expected to follow spike in spot levels

30 December 2013 23:11  [Source: ICIS news]

HOUSTON (ICIS)--The US January benzene contract is expected to jump by about 34.50 cents/gal from the previous month’s close, following direction from the recent uptick in spot prices, aromatics trade sources said on Monday.

Current benzene spot prices are at $4.78-4.91/gal ($1,431-1,470/tonne, €1,045-1,073/tonne) FOB (free on board), above the December split settlement price of $4.48-4.49/gal FOB.

US benzene spot prices briefly touched $5.00/gal earlier this month in a thin market alongside tight supply conditions and position-taking against the upcoming January contract settlement, trades sources said.

The January benzene contract is expected to settle by Tuesday.

($1 = €0.73)

By: Brian Balboa
+1 713 525 2653

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