Asian benzene spot prices continued its upward climb due to firming up of energy rates, gains registered in benzene values in west and strengthening of global aromatics complex.
Sources said market sentiments were strong as even downstream SM markets recorded gains on Thursday with a steady opening today morning.
Benzene deals have successfully been sealed at US $845 per metric ton FOB Korea mark with sellers planning to target higher prices for May and June loadings.
Reading the rise in prices, if purchases had been made at $820 per metric ton to $830 per metric ton FOB, it would have returned rich dividends, they opined.
Benzene prices henceforth, are possibly going to firm up on back of bullish tendencies in energy and petrochemicals.
There may be buyer resistance at higher levels in between, but as long as input costs continue to rise, benzene prices will be on the roll.
marketing@alchempro.com
