Asian Benzene: Supply overhang pressures prices- Market ends
mixed-to-lower- Prompt contango turns
steeperThe Asian benzene market was still in a
strong supply situation Nov. 18. and first-quarter 2023 fundamentals were weak. Firm
bids for second-half December-loading laycans in midmorning Nov. 18,
pushed the contango structure to minus $6-7/mt. Participants in January laycans were also
cautiously following the downtrend. A buying signal from Taiwan was heard to be
in the mid-$20s/mt. However, prices on December floating basis were
heard to be low as a $20-25/mt premium during the day. Separately,
Taiwan's CPC plans a quick 20-day turnaround at its No. A source
familiar with the matter stated Nov. 18 that 3 steam crackers using naphtha-fed
steam in Linyuan Petrochemical Complex. The No. The No. 3 steamcracker
will be removed from service between Jan. 20 and February 11, 2023. 3b>
/b>Steam cracker will be taken offline...