Asia to send less benzene to the US in May on smaller arbitrage

09 May 2014 04:22  [Source: ICIS news]

SINGAPORE (ICIS)--Asia is expected to export less cargoes of benzene to the US in May as the Asia-US price gap narrows, industry sources said on Friday.

A total of 124,000-141,000 tonnes of Asia material was fixed to head to the US for May loading, down from April’s level of close to 150,000 tonnes, traders said.

South Korea will move around 70,000 tonnes for May lifting down from April’s level of 97,000 tonnes, market players said.

Japan will likely export around 20,000-25,000 tonnes, mostly contractual volumes because of the absence of spot availability from the country’s heavy turnaround schedule at its local benzene facilities, they added.

Taiwan will export 12,000 tonnes, similar to Thailand’s export volume for May into the US, traders said.

In April, Taiwan exported 18,000 tonnes, while Thailand moved 9,000 tonnes, they said.

India will ship its contractual volume of 10,000-12,000 tonnes to the US, they added.

Author: Ong Sheau Ling

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