European benzene spot costs crept up on the day, in spite of feeble downstream request.



- Reduced styrene generation topping benzene costs

- Spread to downstream styrene limits

European benzene spot costs crept up on the day, in spite of feeble downstream request.

S&P Global Platts evaluated benzene for conveyance 5-30 days forward at $640/mt CIF ARA Wednesday, up $5.50 on the day. Costs stayed low in examination with the upstream oil complex - naphtha, gas - however not unreasonably low against styrene. "OK purchase benzene to make styrene now? [it is] not a solid business," a merchant said. The downstream styrene advertise was very much provided regardless of the way that not all styrene units were ready for action after turnarounds in Europe. The benzene cost was eating into downstream styrene edges, with the spread between the two narrowing to around $170/mt. Given simple fluid concoction cargo rates for 5,000 mt cargoes at around $35/mt, the exchange to the US stayed open on paper, with the US residential showcase for December evaluated at just beneath $680/mt on Tuesday close. "You move now and you don't profit," a broker said. Regardless of whether it were attainable in supreme numbers, the low accessibility and costs near the make back the initial investment point implied high hazard for benzene sends out from Europe to the US, the dealer included.














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