Raw materials are basic for the growth of textile and chemical industries, and Benzene takes the pride position among them.
Although the demand for benzene in Asia in wake of the Chinese Holidays, prices increased resulted by strong US aromatics complex and upstream energy values.
High European benzene prices have also spurred the Asian prices.
Sources reported that deals were made at levels as high as US $850 per metric ton CFR.
High prices of aromatics including Toluene, while in the downstream markets stronger Styrene values have also prompted traders to keep their benzene offers high.
Sources also add that considering the high prices in Europe and the shipping costs, it was much more profitable to export Asian benzene to the US.
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