Last week, benzene prices marched higher in Asia. The price rise was a result of bullish upstream energy values and firmer downstream SM rates.
Reports of constrained product availability in the region further pushed prices higher in Asia.
On Friday, benzene prices were assessed at the USD 1055-1060/mt FOB Korea levels, a sharp week on week rise of USD (+35/mt).
CFR China benzene prices were assessed at the USD 1075-1080/mt levels, a spike of USD (+45/mt) from the previous week.
Meanwhile, downstream SM prices on Friday were assessed higher at the USD 1235-11240/mt FOB Korea levels, a steep week on week increase of USD (+65/mt).