Europe benzene spot market under downward pressure

LONDON (ICIS)–The European benzene spot market has seen some lower numbers so far this week amid weaker values in Asia and the US, as well as falling crude oil prices.

Although May was valued at $860-875/tonne on Monday morning, stable from Friday’s close, numbers moved lower in the afternoon and were at $855-870/tonne.

There was a June deal done at $840/tonne while bids and offers for the month were at $830-850/tonne.

The June range for prompt delivery was at $835-865/tonne

On Tuesday morning, the market experienced a more significant downward pressure with May bids and offers at $815-850/tonne.

Any June bids and offers were at $810-820/tonne.  The June range for prompt delivery was at $815-840/tonne.

There was market talk for a June deal done at $825/tonne while confirmation from the involved parties was pending.

Meanwhile, the European styrene spot market was also moving lower following losses in the Asian market.