Asia toluene hits 14-week low as regional aromatics markets slump

10 September 2014 11:14 Source:ICIS News

SINGAPORE (ICIS)--Spot toluene prices in Asia fell to a 14-week low on Wednesday, dragged down by hefty losses across aromatics markets in the region, industry players said.

Prices closed at $1,067-1,070/tonne FOB (free on board) Korea, down $5/tonne from the previous day, according to ICIS data.

From 1 September, toluene prices have plunged by nearly $100/tonne, the data showed.

Heavy price declines in benzene, paraxylene (PX) and isomer xylene (IX) markets, together with subdued downstream solvent and gasoline demand, pulled toluene prices down, traders said.

Persistent weakness in the US toluene also weighed on sentiment in the Asian toluene market, they said.

By Ong Sheau Ling