Asia Benzene Market Ends June on a High Note Despite Late-Month Decline

The Asian benzene market ended June on a stronger footing, even though it had sharp ups and downs during the month. The Asian market was strong in the initial half of the month but declined considerably towards the latter part owing to several external and internal factors that impacted market sentiment.

Strong upward price momentum for benzene was seen in early June, as there was strong support from advancing international crude oil benchmarks. In South Korea, an important benzene producing and trading region, prices started the month at USD xxx per ton and hit USD xxx per ton as of June xxth. Global energy markets&#xx; bullish sentiment, especially in the face of geopolitical tensions and tightening inventories, meant more expensive feedstocks for benzene producers. Moreover, downstream demand from the styrene market remained decent, supporting benzene prices in East and Southeast Asia...