In Asia on Tuesday, benzene prices were seen firming. Prices climbed on the back of gains recorded in upstream crude and naphtha values.
FOB Korea prices were assessed up at the USD 1135/mt levels with the price strength seen continuing on Wednesday morning following an overnight climb in benzene prices in the west.
In contract news, JX Nippon Oil and Energy is reported to have settled its June price at the USD 1125/mt mark, down a steep USD 90/mt from May settlement levels and sharply below the nominated price of USD 1190/mt. The lower settlement was attributed to bearish buying trends, weaker upstream ethylene values and softer downstream pricing cues.
