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Global September benzene contract prices see mixed settles, US split again
HOUSTON, Aug 31, 2016 (PCW) – Global September benzene contract prices posted mixed results even as crude and spot benzene rose month-on-month.
In the US, the September benzene contract price saw yet another split settlement of 245 cpg ($733/mt) and 251 cpp ($750/mt), up 16-23 cpg from the 228 cpg ($682/mt) and 229 cpg ($685/mt) seen in Aug.
Meanwhile, the European September contract settled at €627/mt ($499/mt or 234 cpg), down €25/mt from Aug.
The increase in the US is likely due to the continued drop of imports as Europe attracted more cargoes due to tight supplies, short covering and resulting higher spot prices. Europe’s month-on-month drop, however, was largely due to this influx of imports that have left the region well-supplied into September. -- Samantha Hartke