Aromatics Prices Lower Ahead of Contract Settlements

Aromatics business was lackluster ahead of the holiday weekend. Benchmark spot benzene on the U.S. Gulf dropped a dime, in anticipation of lower July contract numbers. Styrene slowed its slide, but still gave up another 2 cts/lb. Spot benzene in Europe declined $10/m.t., but spot styrene managed to buck the trend and rise by the same net amount as buyers hiked bids $15/m.t. against sellers’ $5/m.t. increase in offers. Both major methanol sellers in North America rolled their reference prices, which have remained unchanged now through half a year. Methyl...

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