Benzene reports are published weekly by ICIS in Asia, Europe and the US, with contract and spot price assessments, market news and analysis.
Benzene forecast reports for all three regions are published on a monthly basis, covering the market up to one year ahead. Monthly forecast reports are also available for the Styrene market.
Updated to Q3 2019
There was steady supply in the third quarter, with new facilities that were supposed to come on stream being delayed to the fourth quarter. A few planned turnarounds did little to surprise the market as participants were adequately prepared.
Elevated demand from the US and Europe in the third quarter stoked interest in Asia parcels. Relatively strong arbitrage flow was seen from Asia to the US and Europe. Chinese import demand remained weak, with users depending mostly on domestic cargoes. Otherwise, ongoing demand continued to be seen in Taiwan and southeast Asia.
Europe benzene supply lengthened towards the end of the quarter, after a tight few months which saw a steep $100/tonne backwardation on October. The price premium was because of limited availability for prompt material, and the expectation had been that October supply would improve, thereby also narrow the spread in pricing month on month. Supply was tight on reduced run rates, lengthier outages and unplanned glitches, along with fewer imports and more exports.
Demand has been lacklustre, as macroeconomic uncertainty blighted consumer confidence. A reduction in demand from mid-September to mid-November because of derivative styrene turnarounds eased supply tension for benzene. There is planned maintenance at Ellba’s 550,000 tonne/year Moerdijk facility and the LyondellBasell / Covestro turnaround at the 680,000 tonne/year Maasvlakte site, both in the Netherlands. These were scheduled for around 22 September until 6 November and from mid-September until mid-November respectively.
Supply lengthened during the third quarter amid increased refinery rates during the summer gasoline season and sustained imports from Asia. Imports from Asia remained steady amid growing oversupply in the key China market and weak domestic operating rates for on-purpose benzene units. Poor margins have negatively impacted operating rates for disproportionation units.
Demand increased in the third quarter as downstream styrene production rates rebounded and imports from Asia were steady amid lower operating rates for on-purpose benzene units. The economics for toluene disproportionation units were disadvantageous. But downstream consumption was limited by under performance in certain sectors due to global economic headwinds.
We offer the following regional Benzene analysis and news coverage to keep you informed of factors and developments affecting prices in the Benzene marketplace.
Related products – You might also be interested in the information we publish on these related products
You may also find useful
News & analysis
Regional price assessments, published daily or weekly, enabling you to keep track of trading prices, understand price drivers/fluctuations and set a benchmark for contract price settl ements. ICIS offers reports on over 180 commodities across the global petrochemical, energy and fertilizer markets. Information covered in our price reports includes:
Information is accessed online, via the ICIS dashboard service and is configurable to suit your preferences.
Produced by the ICIS Consulting team, these reports give a robust rolling 12-month price forecast, trade balances and in-depth analysis into where markets are heading – providing a valuable tool to support your short- to medium-term plans.
ICIS pricing intelligence is delivered to you online via the ICIS dashboard. Here you can view your reports and also access other useful services including related news, analysis, historical data and market alerts.
ICIS dashboard also makes it easy for you to create pricing charts, download price history and export data to create tailored analytical models.
ICIS weekly margin reports deliver the detail you need to understand how production costs and prices are affecting margins, enabling you to judge the likely impact on your business and optimise your upstream and downstream business decisions.
The Supply and Demand Window on the ICIS Dashboard provides a snapshot view of historical and forecast information for supply and demand, production capacity and trade flows – a key tool to help safeguard future investments within the chemicals market.
24-hour global coverage of breaking news in the petrochemical industry, including updates on production, shutdowns and key transacted deals, keeping you informed of market developments as they happen. The ICIS news service allows you to customise the market alerts delivered to your email inbox, providing the business-critical information you need straightaway.
If you want to keep updated on the factors driving price movements in the global chemical markets, ICIS Chemical Business provides a summary of the information you need to support your business decisions. Every week, our global team of experts digests and summarises the key issues and their potential impact on the market – all in one magazine.
An expert view of supply and demand comprising four fully-reconciled databases, giving you access to extensive data for more than 100 markets. Information is included on global and regional trade flows, production, capacity and sources of demand in the short-, medium- and long-term. Data can be downloaded, customised and queried to support your planning requirements and your strategic decisions.
ICIS provides specialist training courses across the global petrochemicals, base oils and fertilizers industries. Our training team of industry experts can help you increase your knowledge of the industry and gain the insight and know-how needed to operate and trade effectively.
Find out more about ICIS training courses >>
ICIS produces a series of highly informative and timely conferences. Extensive research is carried out to ensure that each programme delivers the information you need and addresses current industry issues. We source speakers who have the appropriate expertise and experience to deliver excellent quality papers.
Find out more about ICIS conferences >>
Working closely with you to understand your strategies, challenges and ambitions, the ICIS consulting team deliver tailored advice and solutions to suit your unique requirements. With many years’ experience of guiding business leadership teams, we show you how market conditions can make a positive or negative impact on your long-term plans.
ICIS expert consultants can provide your organisation with the insight, intelligence and data needed to build and grow your business in China. We can help you to gain a clear view on the short and long-term supply and demand picture in the chemicals, energy, iron and steel, non-ferrous metals and paper and pulp markets in China.
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Benzene, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.
Benzene is used primarily as a raw material in the synthesis of styrene (polystyrene plastics and synthetic rubber).
Benzene is a colourless, refractive liquid with a characteristic aromatic odour. Its vapour is toxic and highly flammable. In cold weather, benzene solidifies to a white crystalline mass. It is slightly soluble in water, miscible with ethyl alcohol, ether, acetone, carbon tetrachloride, carbon disulphide, and glacial acetic acid (GAA).
Benzene is the largest volume aromatic petrochemical used to produce a number of petrochemical intermediates.
Ethylbenzene (EB) is the largest chemical outlet for benzene and nearly all is consumed in the production of styrene.
The second largest outlet for benzene is cumene which is nearly all consumed in phenol production with acetone formed as a coproduct.
The third largest outlet for benzene is cyclohexane (CX) which finds its way primarily into the nylon chain via caprolactam and adipic acid.
The fourth main derivative of benzene is nitrobenzene, which can be used to make aniline.
Benzene is used to make a number of other chemical intermediates such as alkylbenzene used in detergents, maleic anhydride(unsaturated polyester resins) and chlorobenzenes (engineering polymers).
The main sources of benzene are from the steam cracking or catalytic reforming of liquid petroleum feedstocks, primarily naphtha, where the benzene is recovered from the aromatics stream. Other processes are hydrodealkylation (HDA) of toluene and toluene disproportionation (TDP).
ICIS Benzene Price Index
US Benzene Prices were assessed at $2.75 – 2.83 / gal FOB (free on board) in mid June 2015. Downstream US styrene outages have depressed benzene prices whilst at the same time fuel blending demand has raised Prices for Toluene to $2.95-3.08/gal. This change has almost eliminated the spread between the two aromatics in the US for the first half of 2015.
LONDON (ICIS)--Eurozone private sector output was flat month on month in December as the bloc’s recovery failed to gain momentum, ending the weakest quarter for business in six years, analysts at...Read
SINGAPORE (ICIS)--Asian petrochemical shares were mostly trading lower on Monday, along with crude oil prices, as uncertainty over finer details of a phase one trade deal between the US and China...Read
The conference will offer you the perfect opportunity to participate in discussions about the industry’s most pressing issues including new investment, shifts in trade flows, the move towards sustainability and much more.
Join the global players from the olefins value chain to discuss the latest developments in the market and to ensure that you have all the necessary information and connections to drive your business forward.