Worldwide benzene market shows upward trend last week

In Korea, benzene prices increased in the week ending November 24, due to robust support from the downstream market. In the early days of the week, prices were at US$ 1315/ton lower by US$ 45/ton, as compared to the same period of its previous week but went up during the week and were assessed in the range of US$ 1315-1370/ton FOB Korea.

In Japan, Benzene prices showed similar trend as Korea. Speculators assessed the spot prices of Benzene in the range of US$ 1320-1375/ton CFR Japan.

In India, Benzene prices showed similar trend as Korea and Japan. Initially, prices were at US$ 1325/ton lower by US$ 45/ton, as compared to the same period of its previous week. Later in the week, they were spotted in the range of US$ 1325-1380/ton CFR India.

Benzene prices went up in Europe due to tight product availability and strong demand from the downstream market. In the initial days of the reporting week, prices were at US$ 1345/ton lower by US$ 10/ton, as compared to the same period of its previous week but increased during the week and were spotted in the range of US$ 1345-1380/ton FOB Rotterdam. Contract prices for November were settled at US$ 1338/ton FOB NWE.

In US, Benzene market showed similar trend as Europe. Prices were assessed in the range of 480-485 (cents/gallon) FOB US. Contract prices for November were settled at 490 (cents/gallon) (US$ 1467/ton) FOB US.

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