S&P Global CSG assessed benzene for delivery 5-30 days forward at $591/mt

 

S&P Global CSG assessed benzene for delivery 5-30 days forward at $591/mt Tuesday, up $2/mt from Tuesday’s assessment. Market participants described the benzene market as quiet Tuesday, with one source saying that he had seen “very few” prices indicated on the market. Another source added that “the period after Chinese New Year was supposed to give some direction to the market, but I haven’t seen anything for now.” In addition to muted market activity, a third source said that no benzene trades were conducted Tuesday, although buying activity on the downstream styrene market picked up. Furthermore, the benzene market saw outstanding bids and no offers, with a fourth source commenting that, in his opinion, this was the result of “a thin market and expectations that prices have to recover.” Meanwhile, sources said that the benzene market remained long. The benzene-naphtha spread was seen at $116/mt Tuesday, down from $127.50/mt Tuesday, indicating the persistence of significant supplies of benzene in the market. Upstream, on the crude oil market, the 1630 GMT ICE Brent crude oil futures assessment fell to $61.28/b Tuesday from $61.74/b Tuesday.

RATIONALE:

S&P Global CSG assessed benzene for delivery 5-30 days forward at $591/mt CIF ARA Tuesday, up $2/mt from Tuesday’s assessment. February was assessed at $586/mt, up $1/mt day-on-day, above the most competitive bid of $585/mt. March was assessed up $1/mt from Tuesday’s assessment at $596/mt, above the most competitive bid of $595/mt and based on a stable February-March contango of $10/mt. April was assessed up $1/mt on the day at $606/mt, above the most competitive bid of $600/mt and based on a stable March-April contango of $10/mt. May and June were assessed flat to April. FOB was assessed at $591/mt, flat to CIF.

toluene price updates
toluene price updates

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