Asian Benzene: Rises $10-15/mt tracking rebound in
downstream- Higher SM prices support benzene- Large
supply from Southeast AsiaAsian benzene prices were assessed at
$899.67-920.50/mt FOB Korea, Aug. 19, up $10.34-15.25/mt. Physical discussions
picked up during the afternoon trading session and a deal was reached at $903-920/mt
FOB Korea to load October cargo during the Market on Close assessment
process. After the agreement, the offer
level dropped to $900-920/mt in the same loading range at the close of MOC on
August 19. Sources indicated that the main
support for benzene came from the higher downstream styrene monomer prices,
which were up $29-34/mt at $1,032-1,050/mt CFR China Aug. 19. Sources said that Southeast Asia's supply was still
plentiful. Despite the slow SM margin,
Northeast Asia buyers were not as hungry. A
key Malaysian producer has issued a tender for a...