Asian Chemical Connections
Spot benzene prices in Asia will likely be supported by tight supply stemming from heavy turnaround schedule at regional aromatics facilities from March to May, industry sources said.
Lower aromatics production is also being yielded from increased use of liquefied petroleum gas (LPG) - an alternative to expensive naphtha - as feedstock for petrochemical production, further squeezing supply in the region, they said.
INSIGHT: Crude fall moves olefins margins, hits ethane advantage
"Prices tend to fall faster than they can be recovered so this is a difficult and uncertain time."
VIDEO: ICIS special report - impact of lower crude oil prices