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Global April benzene contracts settle with decreases
HOUSTON, April 2, 2018 (PCW) – Global benzene contract prices were lower for April amid a heavy turnaround season for downstream units and softer spot values.
The US April contract price settled at 299 cpg ($894/mt) FOB HTC, down 7 cpg from March. The European April contract price settled at $880/mt (294 cpg) CIF NWE, down $18/mt from March. The Asia benzene contract price for April settled at $840/mt (281 cpg) CFR Asia, down $80/mt from March.
Spot values softened on weaker downstream demand as a swath of styrene plants went down for planned turnarounds or unexpected outages. Spot Asian values fell $72/mt, or 8%, during the month, while European prices sank $35/mt (3.9%). US spot values were down 8 cpg (2.7%). Brent crude, however, rose $6.44/bbl (10.1%). -- Samantha Hartke
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