The European contract price of benzene for April is likely to be settled lower than March, S&P Global Platts data shows. Recently reported spot trades in Europe also point to a decrease.
The Platts benzene contract price indicator was last assessed at $883.50/mt, or $14.50/mt below the March settlement of $898/mt. The indicator is a rolling five-day average of the month ahead.
The European CP is normally settled at the average of all spot deals executed in Europe in a five-day period leading up to the day of negotiations, which will be Thursday this week.
Three deals were done las Thursday, twice at $885/mt and once at $890/mt. On Friday, two $860/mt deals were heard done.
A bid-offer range of $870-$875/mt was heard on Monday afternoon, but European spot benzene was last assessed at $861/mt CIF ARA on Friday.
