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Global benzene contract prices mixed month-on-month for July.
HOUSTON, July 3, 2018 (PCW) -- The US July contract price settled at 284 cpg ($849/mt) FOB HTC, down 15 cpg from June. The July European benzene contract price settled at $920/mt (€787/mt or 308 cpg) FOB ARA, up $45/mt from June. The July Asian benzene contract price settled at $820/mt (274 cpg) CFR Asia, down $40/mt from June.
During the month, spot values posted mixed results. US benzene spot values fell 13 cpg ($39/mt) or 4.4%, and Asia fell $48.5/mt (5.6%). Europe was up by up $50/mt or 5.6%.
Brent crude gained $2.65/bbl (3.5%). High inventories at Asian ports and facility turnarounds pressured prices down in that region and kept the arbitrage to the US open for a good part of the month, while Europe rose on increased downstream demand. -- Tom Sosnowski