Asian Benzene Falls by $4.34-5.50/mt in the Lower
Upstream Market■ Low SM operation rate hits benzene demand■ The price of Naphtha has dropped to $16.50-21.50/mtAsian benzene prices fell by $4.34-5.50/mt
to $887.33-900.50/mt FOB Korea, Aug. 26. Spot discussions declined in the afternoon trading session.
The offer was last heard at $889-900/mt October loading, FOB Korea. The H2 September-October spread was still in contango. It
narrowed by $2-3/mt over the day to $2-3/mt. Sources indicated that Northeast Asia's demand is still slow
due to the low downstream styrene monomer operating rate, higher expectations
of higher port inventory, and ample supply in China. The marker in China's domestic market was at Yuan 7.417-14.50/mt
or $939.57-960.50/mt if you use an import-parity basis. Sources claim that benzene prices are being pressured by
lower upstream costs. On Aug. 26, Naphtha
C+F Japan's value...