Asian benzene rebounds $11/mt to $1,141/mt, on strong buying

Chemical News: Asian benzene rebounds $11/mt to $1,141/mt, on strong buying

https://www.chemnet.com Sep 09,2011 Platts
Asian benzene pegs for October-loading cargoes were assessed at $1,141/mt FOB Korea at midday Thursday, or $11/mt above Wednesday's assessment of $1,130/mt FOB Korea, on strong demand as participants bid higher for both October- and November-loading cargoes.

Asian benzene was assessed $3 lower day on day Wednesday at $1,130/mt FOB Korea, in another lackluster day of trade despite higher crude and naphtha prices.

Supply of October-loading cargoes was tight, said some sources. "Currently, things do not appear so good for October," said a trader Thursday.

In early Thursday trading, bids were heard only for October-loading cargoes, starting from $1,130/mt FOB Korea and steadily increasing to $1,137/mt FOB Korea.

Later on in the day bids came in for November-loading shipments, and were seen around $1,120-1,125/mt FOB Korea, while offers rose gradually from $1,127/mt to $1,135/mt.

The October/November benzene time spread was at plus $10/mt FOB Korea early Thursday.

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