Benzene prices in Asia gained US$13.50/mt (1.3%) from June 15 to US$1014/mt FOB Korea June 18, on the back of firmer styrene prices. However, the increase was dampened by a rollover of the marker laycans of H1 July and H2 July to H2 July and H1 August, as per Platts.
Without taking the rollover into consideration, benzene prices would have gained $15/mt from June 15.
Asian styrene monomer prices for H1 August rose US$22/mt June 18 from June 15 to US$1272/mt FOB Korea, after Greek pro-austerity parties won enough votes to form a government. Styrene prices are estimated to have gained due to restocking activity as inventories in downstream plants are low. Benzene activity in the Asian trading day June 18 was focused on September. Asian paraxylene gained ten dollars June 18 from June 15 to settle at US$1283/mt CFR Taiwan/China. Rising PX prices boosted downstream purified terephthalic acid by US$23/mt June 18 to US$948/mt CFR China for Taiwan-origin cargoes. PTA makers felt that the recent hike in PX was unjustified given that PTA operating rates were to be further reduced amid worsening margins. Market watchers also felt that without support from PTA, PX could nosedive again after surging June 15.
Japan's NS Styrene Monomer is running its 190,000 tpa No. 2 SM plant at Oita at 85% of its capacity after it was restarted June 16 following an extended shutdown since March 23 due to feedstock woes, a source close to the company said June 18. It plans to boost the operating rate to 100% in July. The company's 230,000 tpa No. 3 SM plant is running at full capacity. The prompt US price increased to US$1319.45/mt FOB USG June 15. The European styrene price for July was assessed June 15 at US$1290/mt FOB Rdam.
19-Jun-12 
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