On November 6, spot prices for benzene in the US Gulf Coast (USGC) slipped slightly as the market continued to monitor trends in the upstream energy sector, following a week-on-week decline of 88 cents.
According to data, the weekly average DDP spot price for benzene in the USGC fell by 88 cents/gallon week-on-week, tracking the significant full-week decline in WTI crude oil.
One benzene trader noted that there has been little news regarding ethylbenzene since the major collapse in octane values, adding that while ethylbenzene typically commands a premium over reformate pricing, one can never be certain if someone is forced to offload inventory. Another trader also pointed out a lack of activity in the USGC ethylbenzene market.
The November DDP assessment for benzene was 351 cents/gallon, down 1 cent day-on-day. The December cargo DDP assessment stood at 349 cents/gallon, down 1 cent; and the January cargo DDP assessment was 347 cents/gallon, down 1 cent day-on-day. The November FOB assessment for benzene was 354 cents/gallon, down 1 cent day-on-day. The December cargo FOB assessment was 352 cents/gallon, down 1 cent; and the January cargo FOB assessment was 350 cents/gallon, down 1 cent day-on-day. The benzene-to-oil ratio calculated on November 6 was 1.62. The November spot DDP assessment for ethylbenzene was 333 cents/gallon, up 2 cents/gallon day-on-day; and the December DDP assessment for ethylbenzene was 324 cents/gallon, up 1 cent/gallon day-on-day.
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