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Global February benzene contracts post mixed results
HOUSTON, January 31, 2018 (PCW) – Global benzene contract prices were flat to lower for January on improving supply and lower downstream demand.
The US February contract price settled at 311 cpg, down 11 cpg from January (322 cpg). The European February contract fell €57/mt to €735/mt ($913/mt or 305 cpg) CIF NWE. The Asia Contract Price for February settled at $955/mt (319 cpg) CFR Asia, up $70/mt from January.
During the month, global values were mixed as Brent crude increased. Lower downstream styrene demand dampened European and US values, while a rash of unexpected benzene outages kept supplies tight in Asia.
Spot Asian values rose $71/mt, or 8.1%, during the month, while European prices fell $45/mt (4.7%). US spot values declined 5 cpg or 1.6%. Front-month Brent rose $2.45/bbl, or 3.7%. -- Samantha Hartke
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