European Benzene Prices Rise on September 25, Tracking Higher October Trading Levels
On September 25, European benzene prices increased, following higher trading levels for October, supported by firm upstream energy prices during the early morning session.
The assessment for benzene with delivery within 5 to 30 days forward stood at $1,399.25/ton CIF Amsterdam-Rotterdam-Antwerp (ARA), up $14/ton from the previous day, based on a backwardation structure between September and October spot premiums.
Five October spot deals were heard today, along with two trades concluded late on September 24, bringing the cumulative number of trades for the October contract period to 39, with an average price of $1,347.75/ton.
The most recently reported transaction prices for October 1–3, October 1–15, and any date in October were $1,414.40/ton, $1,410/ton, and $1,380/ton respectively, representing increases of $14.40/ton, $30/ton, and $5/ton from the previous day.
October contract spot trades were the only transactions heard this week. Overall, the CIF ARA benchmark rose $47.25/ton week-on-week, driven by rising upstream energy costs.
In downstream markets, Platts assessed styrene with delivery within 5 to 30 days forward at $1,776/ton FOB ARA, down $1.75/ton from the previous day, also reflecting a backwardation structure between September and October.
September and October prices remained largely stable, while November prices edged slightly higher due to stronger buying interest.
No spot transactions were reported today. At least 3,675 tons have been traded this week, all for September cargo, at prices ranging between $1,780 and $1,800 per ton.
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