- April BZN paper spread above $240-260/mt mark- East China benzene
stockpiles dip





The Asian benzene market saw trading
momentum slow down March 13 due to slow demand revival. As trade participants anticipated the coming
summer driving season which usually attracts the use octane boosts to tighten
toluene supply stocks, some support was still available to the physical market. FOB Korea,
the benzene physical indicator rose $18.50/mt over previous sessions at
$934.50/mt FOB Korea February 13. The noticeable margin on the
benzene/naphtha spread was a reflection of such expectations. After a bid
of plus $3/mt, April benzene and naphtha spreads were heard and offered at
$240/mt. April/May benzene Intermonth Paper Spread was at the firm
backwardation at plus $4-5/mt. Domestic price discussion levels in
China increased further. Local sources suggested that the
increase could be attributed to styrene...