Aromatics Prices Lower in U.S. and Europe

Spot benzene on the U.S. Gulf plunged 55 cts/gal, but remained above July contracts. Both spot and contract prices are quoted fob. Spot toluene skidded 15 cts/gal, but mixed xylenes rallied 25 cts/gal, traders say, on thin and volatile trading. In Europe the pattern was similar. Benzene took a beating and lost $60/m.t., with toluene down about half that much. Spot styrene was sharply higher, jumping $65/m.t. as the outlook for polystyrene showed signs of life, sellers report. Methanol was notionally weaker, on news that capacity had come back into the market...

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