Product Focus: Benzene

Prices U.S.: $3.88-$3.93/gal fob, spot; $3.75/gal fob; April contracts EUROPE: $1,180-$1,190/m.t. cfr, spot; €742/m.t. del, April contracts Outlook Benzene demand grew 3% worldwide last year, to 45 million m.t. Growth was better than most firms expected, but margins deteriorated as benzene prices failed to keep pace with rising crude oil costs, says Simon Palmer, director/aromatics at CMAI (Houston). The trend has continued so far in 2008 “with returns now being the lowest for well over five years,” Palmer says. Global benzene capacity continues...

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