Aromatics markets see highest-ever settlement for benzene

The New Year came in with a bang in aromatics markets, in the form of the highest-ever settlement of monthly contracts for benzene in the US Gulf, an increase of 23 cts/gal—to $5.10-$5.20/gal fob. Spot prices dropped a dime, and spot toluene and mixed xylenes each fell 20 cts/gal. Buoyed by benzene, the late-month settlement for styrene and spot business were said to be higher by 4 cts/lb. In Europe, market watchers report that the January benzene settlement rose €69/m.t., which drove the styrene barge price for January higher by €60/m.t. Spot...

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