On Wednesday, Asian benzene closed at US $847.25-848.25 / ton (FOB Korea) and $836-837 / ton (FOB Southeast Asia), down $14 / ton and 14.25 / ton, respectively, from the previous day.
Cargo deliveries for November opened at $860 / ton. One cargo to be delivered in November was traded at $862 / ton, seller was China Aviation Oil (CAO) and buyer was MBK.
Another benzene consignment to be delivered in November was traded at $863 / ton (FOB Korea) at noon; the transaction was done between Total and BIT.
Trading price significantly fell compared with Tuesday. Cargo to be delivered in late October was discussed around $845-860 / ton. US benzene fell 3 cents / gallon to close at 303-303.1 cents / gallon (FOB US Gulf).
European benzene slightly lowered on Wednesday. FOB Rotterdam closed at $899-900 / ton, down $1 from the previous day and CIF ARA closed at $889.25-890.25 / ton.
Sources said one single deal for September shipment was done at $888 / ton late on Tuesday. September cargo was negotiated around $885.5-895.5 / ton CIF ARA in early morning trades and quotes for October cargo ranged between $900.5-910.5 / ton (CIF ARA).
Market sentiment was fair and it was reported that two October cargoes were traded at $905 / ton. The market then declined due to lack of clear direction. Discussion level for September and November cargo fell to $880.5-890.5/ ton and $902.5 -903.5 / ton (CIF ARA).
marketing@alchempro.com
