Asian Benzene: Market remains mute amid weak fundamentals- Styrene day-on-day uptick
lends support- Low downstream run ratesThe Asian benzene markets remained quiet
due to weak fundamentals. However, firmer styrene supported a slight upward
price correction for this feedstock. January laycan FOB Korea was bid at $768/mt, and
then offered at $770/mt just before the trade session ended. On Dec. 9,
the FOBKorea's benzene marker rose $9.16/mt, to $770.83/mt. This offer
was also booked shortly after the close. Negative cash
differentials on the floating basis market reflected bearish fundamentals. January FOB
Korea cargo was priced at minus 2/mt with balance-December daily average Means
of Korea benzene price. This suggests that the current pricing month is still
weak. The east China domestic benzene markets firmed
on the day thanks to support from Styrene as many expected healthierrun rates...