US toluene disproportionation margins were estimated at minus $15.09/mt Friday, based on Platts data, putting them in negative territory for the first time since November 15, when they were estimated at minus 55 cents/mt.
Estimated TDP margins became negative amid decreasing benzene levels, against firm US spot toluene and MX levels.
Benzene prices have faced downward pressure as one producer has sought to unload a lot of product, sources said, causing supply to outpace current demand. US spot benzene was assessed Friday at $4.63/gal FOB US.
Spot toluene was assessed Friday at $4.45/gal ($1,353/mt) FOB US Gulf Coast and has remained firm in the mid-$4.40s/gal to lower $4.50s/gal since February 7.
Spot MX was assessed Friday at $4.55/gal ($1,379/mt) FOB USG and has been steady in the mid-$4.50s/gal to lower $4.60s/gal.
Spot toluene and MX prices have been firm against limited market supply.
Platts did not assess the market Monday because of the US Presidents Day holiday.
