Spot benzene prices in the US Gulf Coast (USGC) held firm on September 11, despite a decline in upstream energy markets and reports of subdued trading activity.
A trader noted that the benzene market was very quiet following the previous day’s drop in energy prices.
Market intelligence indicated that a single cargo for September delivery traded at 505 cents/gallon on the Houston–Texas City route on September 10. The aforementioned benzene trader stated that this transaction was linked to ethylbenzene (EB) sales, adding that current price levels are not viable for styrene production.
September benzene assessments remained stable day-on-day at 494 cents/gallon DDP. October cargoes were assessed unchanged at 483 cents/gallon DDP, while November cargoes held steady at 472 cents/gallon DDP.
The benzene-to-crude oil ratio stood at 2.07, unchanged from the previous day. Spot ethylbenzene assessments for September fell by 8 cents to 489 cents/gallon DDP, while October EB assessments dropped 9 cents day-on-day to 470 cents/gallon DDP.
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