Japan Chemical Trading Blog
The Benzene Price Continues its Substantial Fall
Benzene is a basic petrochemical used as a raw material for resins and adhesives, and JX Nippon Oil and Energy Corporation is the Asian price leader.
According to the company’s news release on January 5th, the price for Asia in January was USD 655 per ton, more than 25 percent lower than the previous month’s price of USD 885 per ton.
It’s a substantial fall, continuing from the previous month, and the lowest price since just after the bankruptcy of Lehman Brothers in June 2009.
The background is considered to be the weak demand for resin raw materials, such as styrene monomer and phenol made from benzene; however, we can conclude that the fall follows the oil price, which is over 50 percent lower than the highest price recorded in July of the previous year (USD 1,430).