Europe contract price benzene May rose
Europe’s contract price of benzene in May rose by EUR55 per tonne
MOSCOW – The contract price of benzene in Europe for deliveries in May was agreed at EUR226 per tonne, which is EUR55 per tonne higher than in April, ICIS reported citing confirmation from two buyers and three sellers.
The contract price was agreed on the terms of delivery of CIF Northwest Europe.
In US dollars, the May contract price of benzene was agreed at USD245 per ton based on the rate of EUR1 = USD1.084. Thus, in dollars, the May price rose by USD56 per tonne.
Benzene is a raw material for the production of styrene, which, in turn, is the main raw material component for the production of polystyrene (PS).
According to ScanPlast of Market Report, according to the results of February of this year, the total estimated consumption of PS and styrene plastics in Russia compared to February 2019 increased by 14% and amounted to 39.89 thousand tons. For the first two months of the year, estimated consumption amounted to 80.57 thousand tons, which corresponds to last year’s indicator.
Author: Anna Larionova