Benzene prices in Asia fall in line with declining crude

Benzene prices in Asia have fallen by almost US$12/ton as crude oil futures fell while the arbitrage window to the US remained shut. Prices were assessed at US$1189.50/mt FOB Korea, as per Platts. Spot market activity shifted focus to May-loading cargoes March 7, from June on March 6. The fall in benzene prices exceeded that of naphtha March 7, putting the benzene-naphtha price spread at US$125.50/mt, narrowing from US$138/mt the day before. Asian styrene monomer prices continued falling March 7 for the third straight day, sliding US$19/mt for H2 April to US$1490/mt FOB Korea.
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