Spot prices for benzene in NWE decline sharply overnight, falling US$57/tonne to US$1,200/tonne for 1,000 tonnes CIF ARA on March 6, shrinking premium to naphtha to US$144.74/tonne, its narrowest since mid-December

LOS ANGELES , March 7, 2012 () – Spot prices for benzene in northwest Europe dropped US$57/tonne overnight, closing at $1,200/tonne for 1,000 tonnes, cost, freight and insurance Amsterdam Rotterdam Antwerp on March 6, while naphtha prices dropped only $23.50/tonne to close at $1,055.75/tonne, Platts reported March 7.

The more precipitous drop in benzene prices has narrowed its premium to naphtha to $144.75/tonne, its narrowest since mid-December.

The sharp decline in benzene prices was attributed to excess supply and little buying interest, as well as slowing demand downstream, sources told Platts. Styrene monomer plunged $60/tonne overnight March 6.

The primary source of this article is Platts, New York, New York, March 7, 2012.

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