Q2 paper time spread softens,
benzene-naphtha spread holding up FOB Korea benzene marker dips



As high-priced upstream oil prices raised concerns
among participants about a possible price retreat, Asian benzene markets saw
little trading activity on February 15. While H2
March was supported, bearish sentiments attracted bids along with the April
layman. FOB Korea benzene physical dropped
$7.66/mt- $8.70/mt, to $1,057.67/mt-$1,080.70/mt. Meanwhile, its March/April
physical spread expanded to plus $10/mt-$15/mt forward action. Statistics show that benzene shipments have been in decline. According to the most recent customs data, South Korea's
benzene exports decreased 24.5% over the past month, to 192.595 mt in Dec. China shipped 114,939 mt less than the 216,759 tonnes of the volume exported in November. In December,
one parcel of benzene measuring 9,296 mt was also sent to Saudi Arabia. There was increased activity...