US October benzene contract prices settled 5-13 cents higher Friday at a 274-275 cents/gal split, sources said.
This was in line with market expectations that called for a settlement in the 270-275 cents/gal range after pricing was rangebound within that range for much of the second half of September.
Although spot pricing has fallen over the last couple of days, behind derivative styrene declines, this trend could be reversed during the second half of October due to low China styrene reserves, sources said.
Previously, US September benzene contracts settled at a 262-269 cents/gal split settlement.
Throughout September, prompt spot benzene assessments averaged just under 273 cents/gal, based on S&P Global Platts data.
