Santos (Brazil)- Benzene prices in the Brazilian market have continued to decline due to weak demand from end-use manufacturing units, including styrene, phenol, and other aromatics. Crude oil prices significantly influence downstream Benzene prices, as the production of aromatic naphtha (used in Benzene production) is closely linked to crude oil price fluctuations in the domestic market. New orders decreased, while order backlogs contracted at a faster rate than in March, and inventories decreased at a similar pace.
The steam cracking process, utilized to produce naphtha, plays a pivotal role in determining Benzene prices, thus any alterations in crude oil prices have a proportional impact on Benzene prices. Moreover, demand for Benzene from sectors like styrene, acetone, and other aromatics has remained sluggish in the domestic market, further impacting Benzene prices. With an overall decline of x.xx, the closing price of Benzene...
