- East China narrows the contango in
April/May- ENEOs settles March ACP,
Sinopec raises listed price





On a floating basis, the Asian benzene
marketplace was quiet March 1. Participants remained on the sidelines, despite
mixed fundamental cues. On a floating basis, the April offer
for April Weekly Mean of Korea benzene price was last heard at $7-8/mt. April
supplies extank laycan discussion took place at Yuan 7,340/mt, Yuan 7,350/mt,
and May laidcan was Yuan 7,350/mt, against Yuan 7.370/mt. Sources said
that the contango structure was $918.23/mt against Yuan 7,350/mt and the
May laycan was Yuan 7,350/mt in comparison to Yuan 7,370/mt. The
March/April intermonth spread of benzene/naphtha spread was available at $6-7/mt
during morning trade. Sources said that the action
driver was weakness in naphtha MOPJ papers later in the session. The spread was
offered as a March/April intermonth...