- Naphtha Price Up $21-26/mt- European Cargo Shows Selling Interests in Asia



Asian benzene prices rose $4-5/mt to
$900.67-920.50/mt FOB Korea marker, Sept 2. FOB Korea's physical talks
weakened during the morning trading session. The October-loading cargo was
reduced to $890-910/mt. The Market on
Close assessment showed that buyers were more interested in the October-loading
cargo. Three deals were concluded at $895/mt. $900/mt. And $902/mt October
loading FOB Korea. Sources were concerned
about China's import demand, despite the stronger FOB Korea market. Bids were
heard at $910-930/mt October arrival CFR China. According to market participants, the rebounding styrene
monomer margins were increasing China's SM operation rate which was boosting
benzene demand. However, sources said the
outlook of further downstream polystyrene and acrylonitrile-butadiene-styrene,
or ABS, remained bearish, considering the pandemic control in China and global
inflation. Sources...