Asian
Benzene: Surprise rebound-  Floating
Basis Trades Gaining traction-  4
trades were made in the afternoon-  Discussions
on the easing COVID-19 regulations for ChinaBullish
sentiments returned to the market on Nov. 4, as participants digested
information about production cuts and discussions of positive cues towards
China’s COVID-19 control. The FOB Korea gasoline marker climbed $17-$22/mt each
day to $802.67-$817.87/mt Nov. 4. An anonymous counterparty also booked
the bid at 0832 GMT. According to a source, a few floating deals were
sealed. More trades were made for Decemberloading floating base cargoes than
for November-loading. This was in contrast to the December weekly Mean of Korea
price. Prices rose in East China due to talks between China and COVID-19.Asian
Benzene Daily Rationale & ExclusionsAsian
benzene $17-$22/mt more day-on-day at $802.67-$817.85/mt FOB Korea November
4. On...