Benzene price in Asia market increased by US $1.25 and closed at $675-676 per ton on Wednesday. One deal was made between Vitol and Mitsui at $680 per ton FOB Korea for July shipment at noontime.
FOB Korea benchmark price rose slightly to $675 per ton, and some traders say that current market price in Asia is supported by increase of Chinese Benzene and Styrene. But Styrene price faces downward pressure due to arrivals of ocean-going cargoes.
Benzene is also under arbitrage. Market sources say that about 30,000 tons will be shipped to Europe for arbitrage. Current freight for a tonnage of 5000 is $55 per ton from Ulsan to Rotterdam, and $54 per ton from Ulsan to Houston.
Current spread between pure benzene and naphtha is still lower than $150-200 per ton.
Fibre2fashion News Desk - China
marketing@alchempro.com
