NWE benzene market to stay long without US exports: source

摘要

London — Excess length in the Northwest European benzene market is keeping sentiment bearish, market sources said Wednesday. Only exports to the US Gulf Coast can bring recovery in the short term, one market source said. Benzene spot prices have fallen $61/mt over the course of March to close at $1,180/mt Tuesday, while the naphtha-benzene spread has dropped $80/mt, closing at $101.50 Monday, its lowest level since December 7. A break-even point for producers is seen at $200/mt, according to some market sources.