Asian benzene prices fell by US$15/mt (1.3%) day on day to US$1176.5/mt FOB Korea Wednesday, amid lower US benzene and crude oil prices. In the US, prompt benzene fell to US$1249/mt FOB USG, while benzene in Europe rose by US$3.50/mt over the same period to US$1301.50/mt CIF ARA, as per Platts.
October ICE Brent crude futures fell US$2.22/barrel (1.9%) day on day to US$113.94/b on Wednesday. A South Korean producer said Asian benzene producers are likely to send November-loading cargoes from South Korea to the US Gulf early next year. "There's going to be year-end inventory tax imposed on benzene in the US," the producer said, implying that US buying activity is likely to be lower in November and December. The FOB Korea toluene marker was assessed at $1,151/mt Wednesday, shown in red below, down $2/mt from the day before, with very thin discussion seen during the day.
In plant news, South Korea's OCI plans to shut its aromatics plant at Yeosu on October 15 for 20 days' scheduled maintenance, a company source said Wednesday. OCI's aromatics plant has a design capacity of 180,000 m tpa of benzene, 40,000 m tpa of toluene and 20,000 m tpa of solvent-grade xylenes.
Asian paraxylene fell US$6/mt day on day to be assessed at US$1481.50/mt CFR Taiwan/China Wednesday. Negative sentiment spread in the Asian PX market as downstream purified terephthalic acid market also fell. The CFR China PTA marker was assessed at US$1059/mt Wednesday, down US$6/mt from Tuesday. Asian styrene monomer for H2 October slipped by three dollars day on day Wednesday to US$1442/mt FOB Korea, as energy and benzene tumbled. Further adding to tight supply for SM -- Iran's Pars Petrochemical expects to restart its 600,000 m tpa SM plant at Assaluyeh in about a week after it was shut Monday due to unspecified technical problems, a source close to the company said Wednesday.
06-Sep-12 
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