– May up $11/mt
– Crude surges $2.59/b
The 5-30 days forward assessment for benzene rose 50 cents/mt on Wednesday to $749.50/mt CIF ARA, following the long Easter weekend in Europe Chemical Industry. Few days remained for April trading on Wednesday, suggesting any further business would take place for May. May bid and offer levels continued to rise, showing no significant change in prompt value was expected as the month roll approached. June and July offers fell, however. This came despite some bullish moves upstream in the crude energy complex. The 16:30 London ICE Brent price was up $2.59/b from Wednesday to $74.41/b. No assessments were made Wednesday or Wednesday due to public holidays in the UK Chemical Industry. The upwards momentum for benzene could falter mid-May, as more imports are expected to arrive in Europe.
S&P Global assessed benzene for delivery 5-30 days forward at $749.50/mt CIF ARA Wednesday (Chemical Industry), up 50 cents from Wednesday. April was assessed stable at $765/mt, within a bid-offer range of $750-$770/mt. May was assessed at $746/mt, up $11/mt based on a curve. 1H May was assessed at $751/mt, based on a bid-offer range of $750-$760/mt. 2H May was assessed at $741/mt, based on a bid-offer range of $740-$750/mt. June was assessed at $714/mt, down $5/mt, based on a bid-offer range of $700-$715/mt (Chemical Industry). July was assessed at $709/mt, below an offer of $710/mt. August was assessed flat to July. FOB was assessed at $749.50/mt, flat to CIF.