Benzene prices surges last week

Asian benzene prices were spotted higher last week, rising mainly because of higher upstream product prices. The price rise was also supported by tight supply conditions in the region coupled with a rise witnessed in the US and European markets.

Prices were marked in the range of US$ 1210-1240/ton FOB Korea and US$ 1215-1245/ton CFR Japan. In India, benzene prices were spotted in the range of US$ 1220-1250/ton CFR India.

A climb in upstream product prices pushed spot benzene prices higher in Europe, last week. In the initial days of the last week, prices were at US$ 1360/ton higher by US$ 40/ton, as compared to the same period of its previous week. Prices were quoted in the range of US$ 1360-1515/ton FOB Rotterdam.

Benzene prices in the US too went up last week. Prices gained due to tight product availability in the region. Prices were assessed at 435-450 (cents/gallon) FOB US.