Benzene prices have shown rising trend due to gains in upstream energy values coupled with strengthening of benzene prices in west including both in the US and Europe.
Sources said forward buying by traders for April positions have pushed up US Gulf Coast benzene numbers sharply late last week.
Vessel space availability with lower freight rates from South Korea to the US coupled with strengthening of benzene prices in there, have prompted traders to re-look at opportunities to ship benzene from South Korea to the US, thereby boosting benzene prices in Asia.
Strong global aromatics complex and a general recovery last week in downstream SM prices have further firmed up Asian benzene market even in face of continued sluggishness in derivative PS, EPS and ABS sectors.
April benzene prices this morning were between $710 to $730 per metric ton FOB Korea.
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