Asian benzene gained $19/mt February 6 from February 3 to $1,191.50/mt FOB Korea as US benzene and crude oil prices rose strongly.
Front month ICE Brent crude futures rose $2.14/barrel from February 3 to $114.10/b at 4:30 pm Singapore time (0830 GMT) February 6.
In the US, benzene climbed $21 day on day Friday to $1,225/mt FOB USG.
The European price was assessed February 3 at $1,249/mt CIF ARA. During the morning of February 6 in Europe, February was heard bid at $1,245/mt and offered at $1,255/mt CIF ARA. March was heard bid at $1,235/mt and offered at $1,245/mt CIF ARA. (See related chart: benzene)
Asian toluene was assessed $6.50/mt higher February 6 from February 3 at $1,195/mt FOB Korea as markets upstream rose across the board.
A trader said gains in the toluene market on February 6 were largely the result of the movements in crude, as the toluene market's own fundamentals remained bearish.
The US toluene price remained the highest globally February 3, assessed at $1,222/mt FOB USG.
The European price was assessed February 3 at $1,183/mt FOB Rdam.(See related chart: toluene)
Asian isomer-mixed xylene prices were unchanged February 6 from February 3 at $1,356/mt FOB Korea and $1,368/mt CFR Taiwan.
Trading interest was extremely thin, with participants looking to downstream paraxylene for clues. Traders were moving cautiously amid high MX inventory levels in China.
In East China, MX inventory levels jumped 42% week on week February 3, hitting an 11-month high of 100,000 mt and dampening buying interest, even though the PX-MX spread has widened to more than $230/mt since mid-December.
The US MX price was assessed February 3 at $1,318/mt FOB USG. (See related chart: xylene)
Asian paraxylene ended February 6 up $6/mt from February 3 at $1,642/mt CFR Taiwan/China as crude prices climbed.
Downstream, the Asian purified terephthalic acid market was assessed flat February 6 from February 3 at $1,216/mt CFR China.
The US PX price climbed to $1,599/mt FOB USG February 3.
The European PX price was the lowest globally at $1,545/mt FOB Rdam.(See related chart: paraxylene)
Asian styrene monomer for H2 March was assessed up $9/mt February 6 from February 3 at $1,423/mt FOB Korea as upstream prices jumped amid positive macroeconomic data out of the US over the weekend of February 4-5.
Upstream, March ICE Brent crude futures rose $2.14/barrel from February 3 to $114.1/barrel at 0830 GMT in Asia trade February 3, pushing feedstock benzene up $19/mt over the same period to $1,191.50/mt FOB Korea.
In related news, China's Tianjin Dagu Chemical plans to shut its 500,000 mt/year SM plant at Tianjin for 30 days' maintenance in March, a source close to the company said February 6.
The prompt US styrene price was assessed February 3 at $1,417/mt FOB USG.
The European styrene price for March was assessed February 3 at $1,422/mt FOB Rdam.
