- Increased paper trading activity- Formosa restarts the No. 2 aromatics unit



Due to a weak supply/demand
balance, trading activity on the Asian benzene markets was limited Nov. 1. FOB Korea's benzene marker
rose $8.66/mt to $801.33/mt on Nov. 1, as trading lay cans were rolled over from
December and January. After a physical
spread offering heard at parity early in the morning trading, the
December-January structure became a contango worth minus $1/mt. Sources said that paper trades in benzene derivatives saw
balance-November contract contracts traded overnight for $788-795/mt. December paper was offered in a narrow range of $800/mt to
$802/mt during the session. Some trades were also made for the contract. December paper stood at $801/mt. Spread paper containing benzene-naphtha was available at
$143/mt for December and January, along with interest for the first quarter
2023...