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This week, the Asian benzene market has good liquidity.
As the spread between FOB Korea and DDP USG prices has widened, buying interest has been boosted.
I heard that traders have taken a fancy to the opportunity to transfer goods across the Pacific.
Since the beginning of this week, the value of cargo in May has risen from US$821.
50/ton on March 29 to US$866/ton on April 1.
The continued rise of benzene is contrary to the price trend in the crude oil market, which fell on March 31.
Therefore, the source was surprised by the strong performance of FOB Korea and added that the usual reference relationship between fixed, floating and bill pricing is currently not applicable, and the monthly spread is too volatile to define a large range of floating value in May.
An East China trader also pointed out that with the narrowing of the FOB Korea-CFR China spread, it is logical to shift FOB Korea’s sources to the United States instead of China.
However, due to the increase in new downstream projects and the decline in inventory levels, the demand for CFR China has been growing, which may compete for supply in Asia in the coming weeks.
DDP USG hit a 39-month high.
The US benzene price rebounded.
It hit a nearly 39-month high on March 31.
According to DDP, the spot value was US$958/ton.
The previous monthly value assessment was 10 cents off the suggested monthly discount, and many transactions were heard to be sold at $928/ton.
In addition to the increase in spot prices, participants expect the US April benzene contract price to also rise.
Some sources predict that the settlement price of the US April benzene contract will rise from $802/ton in March to nearly $898/ton.
Participants pointed out that the downstream market demand for styrene is improving, the supply side is tight, and the fundamentals are favorable.
The demand for styrene in the United States has picked up because many manufacturers have put their installations back online after planned and unplanned shutdowns.
It is reported that CosMar and LyondellBasell have restarted styrene production after a planned overhaul.
If the annual comprehensive production capacity of ethylbenzene (EB) is 2.
772 million tons, the demand for benzene is expected to be slightly lower than 171,000 tons per month.
A document shows that Styrolene restarted the EB device in Bayport last weekend.
In addition to the increase in demand, due to the extremely cold weather on the Gulf Coast of the United States in mid-February, many oil refineries and chemical producers went offline and benzene production decreased.
As the spread between FOB Korea and DDP USG prices has widened, buying interest has been boosted.
I heard that traders have taken a fancy to the opportunity to transfer goods across the Pacific.
Since the beginning of this week, the value of cargo in May has risen from US$821.
50/ton on March 29 to US$866/ton on April 1.
The continued rise of benzene is contrary to the price trend in the crude oil market, which fell on March 31.
Therefore, the source was surprised by the strong performance of FOB Korea and added that the usual reference relationship between fixed, floating and bill pricing is currently not applicable, and the monthly spread is too volatile to define a large range of floating value in May.
An East China trader also pointed out that with the narrowing of the FOB Korea-CFR China spread, it is logical to shift FOB Korea’s sources to the United States instead of China.
However, due to the increase in new downstream projects and the decline in inventory levels, the demand for CFR China has been growing, which may compete for supply in Asia in the coming weeks.
DDP USG hit a 39-month high.
The US benzene price rebounded.
It hit a nearly 39-month high on March 31.
According to DDP, the spot value was US$958/ton.
The previous monthly value assessment was 10 cents off the suggested monthly discount, and many transactions were heard to be sold at $928/ton.
In addition to the increase in spot prices, participants expect the US April benzene contract price to also rise.
Some sources predict that the settlement price of the US April benzene contract will rise from $802/ton in March to nearly $898/ton.
Participants pointed out that the downstream market demand for styrene is improving, the supply side is tight, and the fundamentals are favorable.
The demand for styrene in the United States has picked up because many manufacturers have put their installations back online after planned and unplanned shutdowns.
It is reported that CosMar and LyondellBasell have restarted styrene production after a planned overhaul.
If the annual comprehensive production capacity of ethylbenzene (EB) is 2.
772 million tons, the demand for benzene is expected to be slightly lower than 171,000 tons per month.
A document shows that Styrolene restarted the EB device in Bayport last weekend.
In addition to the increase in demand, due to the extremely cold weather on the Gulf Coast of the United States in mid-February, many oil refineries and chemical producers went offline and benzene production decreased.
