European Aromatics Spike May Have Already Peaked

The recent bump in prices for benzene, toluene, and mixed xylenes in Europe may already be tipping over from boom to bust, market watchers say. Spot benzene ran up more than $200/m.t. and styrene zoomed more than $300/m.t., from late August through the middle of September. That spike, however, is now said to be peaking, according to active market participants, with late September and early October ideas close to where they were in August. “It had all the signs of a classic short-term pinch,” says one trader. He says that through the quiet late-summer...

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