ICIS has a network of locally based reporters providing coverage of regional Benzene markets. They provide not just pricing information, but an in-depth understanding of the factors driving prices and market fluctuations.
Updated to Q3 2019
Supply is expected to continue lengthening in the third quarter amid increased refinery rates during the summer gasoline season and sustained imports from Asia. Imports from Asia are likely to remain steady amid growing oversupply in the key China market and weak operating rates for on-purpose benzene units.
Demand is likely to remain stable in the third quarter as long as imports from Asia remain steady and downstream styrene production rates remain healthy. Demand for imports will remain steady amid weak operating rates for on-purpose benzene units. The market is likely to remain backwardated.
We offer the following regional Benzene analysis and news coverage to keep you informed of factors and developments affecting prices in the China Benzene marketplace.
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Benzene is used primarily as a raw material in the synthesis of styrene (polystyrene plastics and synthetic rubber).
Benzene is a major chemical feedstock used to produce a number of other petrochemicals such as ethyl benzene (EB), styrene and solvents such as cumene, phenol and acetone.
The main sources of benzene are from the steam cracking or catalytic reforming of liquid petroleum feedstocks, primarily naphtha with benzene recovered from the aromatic stream.
Although benzene is mainly sourced from naphtha, crude and gasoline futures on NYMEX futures are also shown to be a key driver in the market at times.
Another factor that can influence the market is weather, especially in the summer. Much of the North American benzene production is concentrated in the US Gulf (USG), which is always vulnerable to hurricanes.
The ICIS US Gulf benzene report is used by some majors as a benchmark in the aromatics and petrochemicals sector. This is important because many companies trust ICIS and how we assess the market.
We publish a single contract number and we publish spot prices. That can affect the entire outlook for a month or quarter, or an entire year. The US Gulf report includes contract and weekly spot prices on a free-on-board (FOB) basis.
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