Asia-U.S. Benzene Arbitrage Window Closed in January

In January, the benzene market in Europe fluctuated downward, with limited negotiations concluded. Benzene market prices in Europe ranged from USD 562/mt to USD 563/mt, down 2.8% M-O-M and down 40.01% Y-O-Y.The lowest price was USD 542/mt, compared with the highest price of USD 589/mt.

The benzene market in the U.S. followed the downtrend of the global market. Benzene prices were USD 569-570/mt, up 0.95% M-O-M while down 39.45% Y-O-Y. The lowest price was USD 526/mt, with USD 591/mt for the highest price. Benzene prices closed USD 588/mt FOB U.S. Gulf, and USD 573/mt FOB South Korea. The freight of benzene is USD 52/mt from Asia to the U.S. Therefore, the arbitrage window between Asia and the U.S. was closed.

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