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Chemical Week Magazine :: Basic Chemicals & Plastics
Arbitrage window to North America wide open for Asian benzene
5:54 AM MST | January 24, 2014 | —Clay Boswell
Benzene spot prices in the United States leaped almost 10%, to an average of $5.30/gal, during the week ended 16 January, pushing the arbitrage window wide open to Asian producers, say analysts at IHS Chemical. “Benzene for prompt delivery became tight, and it became apparent that sellers had shorted the market thinking that spot benzene for January would be lower than contract,” they say in IHS Chemical’s Market Advisory Service: Aromatics Weekly. Spot prices also jumped in Europe, rising 11% on the back of prompt demand from the United States...
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