Asia benzene prices fall as SM prices weaken
Daphne Ho
23-May-2017
SINGAPORE (ICIS)–Spot benzene prices fell $36-41/tonne
on Tuesday as weak styrene monomer (SM) prices battered
market sentiment.
Prices were assessed at $751-764/tonne FOB Korea at the close
of trade on Tuesday.
Offers for July benzene were at $775/tonne FOB Korea
against bids at $740-750/tonne FOB Korea. An August deal was
concluded at $755/tonne FOB Korea toward closing.
Prices started to fall early in the morning, with
declines of about $17-20/tonne compared with the previous day
and further losses came in the afternoon.
The market was largely quiet in the afternoon, with traders
holding on to long positions and kept to the sidelines due to
sharp decreases in SM prices.
Spot SM prices were at around $1,080-1,090/tonne
CFR (cost and freight) China.
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