Asian
Benzene: FOB Korea benzene stays Rangebound; market expects Q2 recovery-
High inventory can be weighed against turnaround plans-
Hengyi Brunei plans March turnaroundAs
some participants expected a recovery in demand during the second quarter, the
Asian benzene markets gained ground on the final trading session of the week
February 24. The April laycan was $933/mt, versus $935/mt for both the
buy- and sell-side participants. The FOB Korea benzene physical markers
rebounded $15/mt on the day and was at $935/mt February 24, ending its decline
from the previous session. The marker's monthly average was $914.33/mt
(February 6), and $985.33/mt (February 14). In the east Asia region, more
turnarounds were expected between March and April. According to market
sources, benzene demand would decrease further. Brunei's only aromatics
producer Hengyi Brunei will take its paraxylene- and benzene-producing units...