London — European benzene spot prices have been rangebound this week, failing to react to a significant rise in the oil complex
The 5-30 day forward benzene spot price was last assessed Thursday at $870.50/mt CIF ARA, and has been trending in the range $867-$870.50/mt this week, seeing minimal changes.
This is in spite of front month ICE Brent crude price reaching $74.73/b on Thursday, up from $71.83/b last Friday.
Prices for naphtha have also come up in line with crude, with the CIF NWE naphtha price assessed Thursday at $644.75/mt, up from $621.75/mt last Friday.
Benzene demand has been uninspiring in Europe, especially for prompt dates.
An ongoing production issue at LyondellBasell and Covestro’s propylene oxide/styrene monomer facility in Maasvlakte, the Netherlands continued to weigh on prompt demand.