The June US benzene contract price settled 5 cents/gallon ($14.95/mt) lower at $4.42/gal ($1,321.58/mt), sources said Friday.
The benzene CP settled at $4.47/gal in May, an 11-cent jump from the prior settlement at $4.36/gal.
Market participants expected a lower settlement because of the decline in spot prices toward the end of May amid weaker demand, sources said.
Sources expect benzene to strengthen toward the end of June because of a possible uptick in demand.
Spot prices have been on a downward trend since the assessment at $4.49/gal on May 13, falling as low as $4.35/gal, according to Platts data.
US spot benzene was last assessed at $4.36/gal FOB US Gulf Coast for May on Friday.
Source:
http://news.chemnet.com/Chemical-News/detail-1970513.html
