Asian spot benzene spiked US$108-120 a ton FOB Korea and CFR Taiwan in the second week of December. The CFR India was up US$120 a ton on the week. Benzene prices gave back a significant part of its previous week’s gains as buyers were resistant to such sharp hikes. Sellers in Asia were unlikely to compromise on prices until given the price uptrend in crude oil and feedstock was established.

In US, benzene spot prices were little changed from the previous week, as the aromatic generally tracked movements in upstream crude oil values. Benzene spot prices had spiked last week. Upstream toluene prices were assessed largely flat on the week, remaining close to the 2016 high seen last week. US January assessments were up US cents 9 a gallon on an FOB basis and US cents 8 on a DDP basis on the week. Latin benzene pricing climbed US$29 a ton FOB Brazil during the week.

In Europe, spot rose US$81 a ton, both ARA and FOB Rotterdam on the week.

Courtesy: Weekly PriceWatch Report