Due to hike in upstream energy prices and increase in global aromatics complex as well as downstream Styrene Monomer prices, Benzene prices in Asia rose notably on Tuesday, February 21 2006.
Sources reported that high benzene prices in the West also supported the hike in Asia.
Demand has lowered with buyers prolonging their purchases in the fond hope that prices might withdraw.
The spot prices are pegged at around US $755-765 per metric ton FOB Korea mark.
Traders are optimistic and believe that, provided there is a considerable drop in the upstream energy prices, benzene prices will continue their high trend.
April contract prices are as high as $790 per metric ton FOB Korea.
marketing@alchempro.com
