Asian and South American imports into Amsterdam-Rotterdam-Antwerp region have reduced European spot benzene prices to €1,400-€1,420/tonne, lower than May contract settlement of €1,449/tonne free on board northwest Europe set on April 30

LONDON , June 3, 2014 () – Asian and South American imports arriving into the Amsterdam-Rotterdam-Antwerp (ARA) region have reduced European spot benzene prices to $1400-1420/tonne, lower than the May contract settlement of $1449/tonne FOB (free on board) NWE (northwest Europe) set on 30 Apr. Quantities of 10,000 tonnes from southeast Asia and 10,000-12,000 tonnes from India have been committed to the region, which along with the softening of US contract prices (to $4.57/gal FOB) are expected to impact price levels in Europe. Stiff competition from Asia and the US has placed a burden on local suppliers, as high prices in the region hinder any chance for sustained recovery.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.