Asian benzene once again breached a psychological mark and in the process surpassed US $1,000 / ton mark on Tuesday and closed at US $1000.5-1002.5/ton (FOB Korea) and US $989-991/ ton (FOB Southeast Asia), up $10.5 and $11 / ton, respectively.
Asian markets continued to rise due to strong crude oil price and strong benzene markets in Europe and America.
Naphtha price rose to about $871 / ton, its spread with benzene was about $129/ ton. However, benzene still faced cost pressures. But the spread between benzene and styrene was $320 / ton, while the spread between phenol and benzene was $718 / ton.
In the morning, negotiation over February benzene cargo was around $1000-1010/ ton. Hyundai Corp offered February and March shipments at $1002 / ton and $1003 / ton. 6,000 tons of benzene and 6,000 tons of toluene will be shipped to the US Gulf by the end of December.
marketing@alchempro.com
