Due to lowered benzene prices in the West, in Asia too they dropped considerably by the end last week.
Sources said that strong crude prices and decreasing stocks forced buyers into purchasing.
However, buyer bids are pegged at below US $690 per metric ton FOB Korea mark.
Traders are rejecting these offers backed by rising energy prices and buying interest.
Sources also reported that several deals were sealed at around $705 per metric ton and the benzene prices hiked to about $710 per metric ton this morning.
Improving Toluene prices are also supporting the rise in benzene prices.
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