Japanese Chemical Trader blog

Japan Chemical Trading Blog


According to an announcement by JX NIPPON OIL & ENERGY CORPORATION on May 7, the contractual price of benzene for May for Asia was determined as USD1268 per ton.

Benzene is a basic petrochemical used as a raw material for resin and adhesive. JX NIPPON OIL & ENERGY CORPORATION is the price leader of this product in Asia.

While the market price for styrene, a major application of benzene, is not really fluctuating, with a decrease in production due to periodic maintenances by Asian benzene manufacturers, the contractual price was determined at almost the same price as the previous month (USD3 per ton up from the previous month).

Since shale gas produces very little benzene, the production of benzene decreased significantly in the U.S. where the shale gas revolution is progressing rapidly. Therefore, the bottom price of benzene is partially supported by robust exports to the U.S.