Asia benzene slips from 45-week high on soft US market

17 January 2014 10:08  [Source: ICIS news]

SINGAPORE (ICIS)--Spot benzene prices in Asia dipped on Friday from a 45-week high, following a halt in the US market rally and amid weak regional demand, industry players said.

At the close of trade, benzene was at $1,353-1,357/tonne FOB (free on board) Korea for March cargoes and at $1,367-1,377/tonne FOB Korea for second-half February parcels, according to ICIS data.

Prices came off by $10-15/tonne from the 45-week high of $1,365/tonne FOB Korea hit early on Thursday, the data showed.

Rising prices in the European and US benzene markets had fuelled the spike in prices in Asia, industry players said.

But end-users in this region are unwilling to raise their buying ideas amid a stable domestic market in China and a weak downstream styrene monomer (SM) market.

Author: Ong Sheau Ling

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