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Global January benzene contract prices settle lower

HOUSTON, January 4, 2016 (PCW) -– Global January benzene contract prices for benzene have settled with the US contract finalized Monday.

In Asia, Japan’s JX Nippon Oil & Energy settled its January Asia Contract Price (ACP) at $570/mt (191 cpg) CFR Asia on December 29. This was $50/mt lower than the Dec ACP.

On December 30, the January European benzene contract price settled at €585/mt ($639/mt or 213.7 cpg) CIF ARA, down €19/mt from the December contract price of €604/mt ($639/mt). The decrease on a €/mt basis was not seen on a $/mt basis as the currency strengthened during the month.

On Monday, the US January CP had settled at $2.12/gal ($634/mt) down 18 cents/gal from December.

Global spot benzene prices were lower during December with the European front-month falling $15/mt, Asian prices down $42/mt and US spot sliding $63/mt. These were pressured by lower Brent crude, which lost $7.16/bbl (about $51/mt) during the same time frame. -- Samantha Hartke

To keep up-to-date with global benzene markets, check out the Global Daily Benzene Report.