February US benzene contracts prices
February US benzene contracts up
MOSCOW – February US benzene contracts rose amid rising global oil prices, which led to higher benzene spot prices, according to ICIS .
Contract prices rose 11 cents per gallon (USD33 per tonne) from January to USD2.64 US dollars per gallon, FOB Gulf of Mexico USA.
Spot benzene prices rose in early January, when tensions between the United States and Iran reached their peak after the assassination of a senior Iranian general, and the price of WTI crude oil exceeded USD60 per barrel.
US benzene contract prices are usually calculated on the last business day of the previous month and are largely determined by the average spot price for the last 10 days of the month.
Benzene is used to produce a number of intermediates that are used to create polymers, solvents, and detergents.February US benzene contracts
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 twelve months of 2019, the estimated consumption of polystyrene and styrene plastics in Russia amounted to 500.66 thousand tons, which is 1% less than the previous year.
The main US benzene producers are ExxonMobil, Marathon Petroleum, Shell, Flint Hills Resources, Chevron, CITGO, LyondellBasell, Valero and Total.
February US benzene contracts