US benzene producers seek increase for March

25 February 2008 22:40  [Source: ICIS news]

HOUSTON (ICIS news)--US benzene producers nominated increases of 66-76 cents/gal ($198-228/tonne or €133-153/tonne) for March contracts on Monday due to higher spot prices and stronger energy prices, according to market participants.

Aromatics trade sources said producers nominated a March price of $4.20/gal FOB (free on board) and $4.30/gal FOB, up from the February settlement of $3.54/gal FOB.

Benzene spot prices were assessed at $3.94-3.97/gal FOB HTC (Houston-Texas City), traders said, up from $3.45-3.50/gal FOB HTC one month earlier.

Benzene nominations and settlements typically emerge during the last week of the month.

Major US benzene producers include ExxonMobil, Equistar and BP.

For more on benzene visit ICIS chemical intelligence

ICIS Copyright © Reed Business Information 2009

Author: Brian Balboa
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