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Correction: Sept global benzene contracts gain on rising spot values, tight supply
Corrects first paragraph to show proper movement.
HOUSTON, August 31, 2017 (PCW) -– Global benzene contract prices strengthened in September amid tightening supplies on widespread plant outages, especially in downstream markets.
The US September benzene contract price came in at 262 cpg ($793/mt) and 269 cpg ($804/mt), up 14-20 cpg from August.The Asia Contract Price for September settled at $810 (271 cpg) CFR Asia, up $65/mt from August. Europe rose €10/mt at €655/mt ($781/mt or 261 cpg) CIF NWE.
During the month, global values rose on tightening supplies amid several planned and unplanned outages and jumping downstream styrene prices as the supply-demand balance in that market proved particularly tight. Spot Asian values rose $62/mt, or 8.5%, during the month, while European prices gained $24/mt (3.2%). US spot values moved up 19.5 cpg or 7.9%. Front-month Brent, however, fell 92 cents/bbl, or 1.8%. -- Samantha Hartke
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