UpdateWeak Asia benzene falls under $800/t

15 October 2008 10:51  [Source: ICIS news]

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SINGAPORE (ICIS news)--Asia spot benzene has slipped below $800/tonne - the lowest level in 30 months - on falling crude values and weak market fundamentals, traders said on Wednesday.

A Singapore-based trader reported a deal at $790/tonne FOB Korea for December loading.

Following that, an offer was also heard at the same price for December.

Traders said prices for November and December shipments were now at par.

The last time prices fell below $800/tonne FOB Korea was in April 2006, according to global chemical market intelligence service ICIS pricing.

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Author: Mahua Chakravarty
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