- Time spreads narrowed on forward paper curve- East China domestic mark
falls on the exchange rate





The Asian benzene market started the
session with a rangebound price movement Feb. 27, despite lackluster demand and
tight production. FOB Korea benzene physical markers
fell $1/mt from their previous session to $934.67/mt FOB Korean Feb. 27. With both offers
and bids crossing at $933-945/mt, the April laycan showed a tight standoff
between sell- and buy sides. However, no deals were made. The
derivatives market was quiet. The six-month forward curve was
largely interpreted by market sources as having lower values. The
March-April spread was offered at plus 3/mt, versus plus 5/mt. There was
some improvement in the east China domestic benzene markets. Yuan
7,200-7.220/mt was used to discuss H2 March laycans for ex-tank supplies.
Further out, Yuan 7,300-7.310/mt was used...