Spot aromatics down after high January contract settlements

Aromatics were down on both sides of the Atlantic, with benzene and styrene driven back from recent highs. Spot benzene on the US Gulf tumbled 40 cts/gal, while toluene held to half that decline, traders report. Mixed xylenes gained 20 cts/gal on word of a record high settlement for the January contract, which rose 33 cts/gal, market watchers say. A similar pattern was revealed in Europe, where benzene plunged $125/m.t., dragging down styrene $120/m.t. In contrast, toluene and mixed xylenes each gained $50/m.t., traders report. Methyl tert-butyl ether joined the...

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