Global benzene market shows upward trend last week

Korean benzene prices increased in the week ending October 27, due to robust support from the downstream market.

In the early days of last week, Korean benzene prices were at US$ 1300/ton, higher by US$ 40/ton as compared to the same period of its previous week and were assessed in the range of US$ 1260-1300/ton (FOB Korea).

In Japan, benzene prices showed upward trend in the reporting week as well. Speculators assessed spot prices in the range of US$ 1265-1305/ton (CFR Japan).

In India, benzene prices showed similar trend as Korea and Japan and were assessed in the range of US$ 1270-1310/ton (CFR India).

In Europe, benzene prices went up by 3% w-o-w, due to tight product availability and strong demand from the downstream market. Contract prices for October were settled at US$ 1285/ton (FOB NWE), slightly down as compared to the contract prices of last month.

In US, Benzene prices showed similar w-o-w percentage increase as Europe.