- July benzene/naphtha spread offers- Pockets of July benzene
papers traded





Participants continued to watch for signs
of recovery as the Asian benzene markets struggled with mixed fundamentals. Participants viewed July laycan fundamentals as
more balanced than those for June, when demand was much lower. On FOB
basis, the benzene mark increased $7.33/mt on June 5 to $838/mt. An open deal
was heard at $839/mt. The physical spread between benzene and naphtha
was $251.63/mt on June 5, a rangebound figure compared to the average of
$269.92/mt for May. Sources said that benzene remained profitable
for some producers. In paper derivatives the spread July
benzene/naphtha was being offered at $245/mt. In the
afternoon, July paper was traded at $827-828/mt. However, it quickly
accelerated and moved higher. Bids and offers were heard between $834/mt and
$837.5/mt. The July benzene...