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Markets :: Basic Chemicals :: Petrochemicals :: Benzene

Benzene Prices May Have Bottomed Out

10:43 AM MST | January 13, 2009 | GREGORY DL MORRIS

January benzene contracts in Europe and North America have settled with only slight declines from December 2008 levels. The relative scale of the month-on-month changes indicates that the dramatic aromatic price drops of late 2008 are most likely at an end, market watchers say. However, no one is willing to call a bottom of the market, and buyers say that the European contract is equivalent to a significantly lower price than the settlement on the U.S. Gulf Coast. The U.S. benzene contract declined 5 cts/gal, settling at 101 cts/gal, fob. The contract had fallen...

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