- Weaker Yuan currency reduces import parity price- Naphtha CF Japan up to $9.25-10.50/mt



Asian benzene prices were up $4.67-5.50/mt
on the day at $919-930/mt FOB Korea on Aug. 23. Physical discussions
accelerated during market close on Aug. 23, with the last hearing of bids at $922-950/mt
H2 September loading FOB Korea and the October loading bid heard at $913-930/mt,
against an offer at $918-930/mt. There was
no deal. H2 September-October spread
increased by $2-3/mt to $6-7/mt backwardation FOB Korea physical. Spot prices in China's domestic market were up Yuan 10-20/mt
to Yuan 7,717-8,000/mt. The Yuan
currency's weakness caused the import parity prices to fall by $3.38-4.50/mt or $977.05-1000.50/mt. China's Sinopec
kept its listing price at Yuan 7500-8000/mt on Aug. 23. Upstream, the Naphtha C+F Japan's value was up $9.25-10.50/mt
at $688.75-700.50/mt on Aug. 23.