The US May benzene contract price settled 6 cents lower compared with April at 293 cents/gal, or $876/mt, sources said Tuesday. The settlement was in line with expectations among market participants.
US spot benzene activity was limited ahead of the settlement, with prompt spot barrels talked at 284-289 cents/gal DDP USG while June was last seen at 285-290 cents/gal FOB USG.
Sources said derivative demand remained soft, with a downstream styrene producer undertaking planned maintenance in May.
On the supply side, April US imports were last estimated at near 36,000 mt and May import volumes were unlikely to see significant increases, sources said.
–Kevin Allen, [email protected]
–Edited by Keiron Greenhalgh, [email protected]
