Spot benzene prices in the US Gulf Coast (USGC) edged higher on October 23, as a sharp decline in the octane market shifted price drivers toward styrene export demand from the USGC region.
A benzene trader noted that trading was thin following a week of market volatility. Since the start of this week, spot-month benzene in the USGC has fallen by 43 cents/gallon. The assessment for October benzene rose 4 cents/day-over-day to 482 cents/gallon DDP. November cargoes were assessed at 477 cents/gallon DDP, up 4 cents, while December cargoes were assessed at 467 cents/gallon DDP, also up 4 cents.
On an FOB basis, October benzene assessments increased by 4 cents to 485 cents/gallon. November cargoes were assessed at 480 cents/gallon FOB, up 4 cents, and December cargoes at 470 cents/gallon FOB, also up 4 cents.
The benzene-to-crude ratio stood at 1.88.
Ethylbenzene (EB) spot assessments for October rose 3 cents/gallon to 396 cents/gallon DDP. November EB cargoes were assessed at 387 cents/gallon DDP, up 4 cents/gallon.
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