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 Q1 2020
Supply will likely remain steady in the first quarter. Refinery rates are expected to remain strong, while lower toluene prices and higher benzene prices should improve margins for on-purpose benzene. Lengthening supply in Asia will weigh on the region and drive exports to the US, although imports could ease if aromatics production is curtailed as supply exceeds derivative demand.
Demand is expected to remain soft during the low season for downstream products such as styrene. Demand could also remain hindered as while the recent US-China trade deal has boosted sentiment, underlying concerns remain. The trade dispute and generally weak expectations in many downstream markets are likely to weigh on market sentiment. Demand for imports could be affected by domestic operating rates for on-purpose benzene units.
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.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Benzene. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
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