Chemicals Updates

Asian Benzene: Prices weaken on lower MOC trades / FOB Korea backwardation structure widens / Weak downstream limits buyer premiums in CFR Taiwan market

May 25, 2026

Asian benzene $10.67/mt lower on the session at $1,049/mt FOB Korea on May 22, amid lower MOC trades. The front-month ICE Brent futures contract fell 13 cents/b on the trading session to $105.33/b, while the naphtha C+F Japan marker plunged $42.50/mt lower over the session to $872.50/mt on May 22. During the Market on Close assessment process, two trades were reported. Tricon sold a H2 June loading FOB Korea cargo to GS Caltex at $1,050/mt. BP sold a July loading FOB Korea cargo to GS Caltex at $1,048/mt. In the FOB Korea market, the backwardation structures between H2 June/July and July/August widened. The H2 June/ July intermonth backwardation widened to $3/mt from $2/ mt the day before. Meanwhile, the July/August intermonth backwardation widened to $6/mt from $4/mt a day earlier....

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