JX Nippon Oil raised its February price of benzene at USD165 per ton – JX Nippon Oil benzene - Arhive
JX Nippon Oil benzene
MOSCOW ( MRC ) – The company JX Nippon Oil & Energy (is part of Nippon Oil Corporation), a major producer of petrochemical products in Japan, installed the February price of benzene on the level of USD1 010 per tonne, which is below the level of USD165 in January, according to ICIS citing a source in the company.JX Nippon Oil benzene
Spot benzene prices in Asia in January were on average at the level of USD935 per ton, FOB Korea.
Market participants attributed such a price increase limited supply of material in the market, as well as the high demand for the Chinese and US markets.
Furthermore, styrene market, which serves as a raw material for benzene, also shows high demand.
As reported earlier MRC, spot benzene prices in the US rose in January to an average of USD3,08 per gallon.
Some market participants have reported the possibility of increasing the price of polystyrene (PS) in the US in February, due to a sharp rise in benzene prices.
According to the price review the MRC-of ICIS , in Russian spot prices trading companies selling Nizhnekamsk polystyrene, last week were stable.
The increase in prices was observed on the brand MSS / M and COC / M production of “Gazprom Salavat neftekhim”. Buying activity is flat, and the sellers have not noted any deviations in sales, atypical for this time of year.
Nippon Oil Corporation is Japan’s largest oil company. Its activities include exploration, import and refining of crude oil; production and sale of petroleum products (ethylene, propylene, butadiene, styrene, paraxylene, orthoxylene, and others.), including fuels and lubricants.
In recent years, the company is expanding its production capacity in other countries. Its products are sold under the ENEOS brand.
mrcplast.ru
Author: Anna Larionova