Benzene Price in USA

United States: 1007 USD/MT

In December of the fourth quarter of 2023, the price of benzene in the United States rose to 1007 USD/MT. This report provides a thorough analysis of the most recent developments, updates, and trend impacting the global benzene market, delivering essential and timely information to stakeholders.

The latest report by IMARC, titled "Benzene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of benzene prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Benzene Prices December 2023:

United States: 1007 USD/MT
South Korea: 861 USD/MT
Saudi Arabia: 896 USD/MT
Brazil: 835 USD/MT

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The study delves into the factors affecting Benzene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

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Benzene Price Trend- Q4 2023

In the fourth quarter of 2023, the North American benzene market encountered a downturn characterized by moderate supply and demand, primarily influenced by trend in downstream sectors such as styrene and cumene. Major container ports in the United States had already reached their projected peak in import cargo volume for the year, resulting in moderate demand for Benzene. Additionally, global challenges within the petrochemical industry impacted trade dynamics for various chemical products, including Benzene. The market awaited improved demand off-takes from the downstream sector, with domestic chemical sectors anticipated to exhibit a better demand outlook. However, Benzene retailers displayed destocking behavior towards the quarter's end, contributing to a decline in prices in the USA. For a detailed analysis of price trend during this period, refer to the Benzene Price History.

Benzene Market Analysis

The global benzene market size reached US$ 64.1 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 86.1 Billion, at a projected CAGR of 3.20% during 2023-2032. In the USA, Benzene prices witnessed a decline of 9% compared to the previous quarter, primarily due to decreased demand from downstream sectors like styrene and aromatics. Despite expectations of improved demand off-takes, retailers demonstrated destocking behavior towards the end of Q4, leading to downward pressure on prices. Additionally, external factors such as the forthcoming inflation report from the Labor Department and no alteration in crude oil inventories held within the Strategic Petroleum Reserve (SPR) influenced market dynamics. The stable overall prices for the second consecutive month indicated market resilience amidst challenging conditions. The latest price of Benzene FOB Louisiana in the USA for the past quarter was USD 1007/MT. In the APAC region, the benzene market was primarily driven by a weak demand outlook and declining production costs influenced by decreasing naphtha and crude oil prices. The decrease in benzene volume imported from South Korea to China indicated weak demand in China, accompanied by rising import prices. Additionally, the South Korean benzene market faced decreased demand from downstream industries, leading to the continued decline in domestic prices. The quarter's conclusion pointed towards potential lower production rates and a decreased demand outlook for styrene, cumene, and other aromatics, with no observed plant shutdowns during the period.

Buyers exhibited hesitancy due to unfavorable buying signals, anticipating heightened supply in Asia due to congestion in the Panama Canal and increased run rates in toluene disproportionation (TDP) units. Both domestic and international buyers faced difficulty in accepting prevailing offer levels, given that downstream customers were cutting order quantities. The percentage change from Q3 to Q4 2023 was 18%, and the price percentage comparison between the first and second half of the quarter in South Korea was -5%. The latest price of Benzene FOB Seoul in South Korea in Q4 2023 was USD 861/MT. Similarly, in Europe, the fourth quarter of 2023 witnessed a bearish trend in the benzene market due to sluggish demand and excess supply. Despite moderate supply, the overall outlook remained negative, with a slow pace in the manufacturing of intermediate goods, energy, and durable and non-durable consumer goods contributing to the decline in demand. Downstream sectors such as styrene and cumene also displayed a weak demand perspective, further influencing benzene prices throughout the quarter. Additionally, the crude oil production cut imposed by Saudi Arabia on the Asian market impacted the production cost. The percentage change in price from last year's same quarter was -8%, while the change from the previous quarter was 2%. Market observers noted a persistent decrease in benzene bid-offers throughout the week. In the past month, Aramco, the state-owned energy group from Saudi Arabia, lowered the January OSP differentials for all its crude grades bound for Europe, the Mediterranean, and the United States. European benzene prices witnessed a decline as a result of fluctuations in upstream factors.

Browse Full Report: https://www.imarcgroup.com/benzene-pricing-report

Key Points Covered in the Benzene Pricing Report:

The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:

Benzene Prices
Benzene Price Trend
Benzene Demand & Supply
Benzene Market Analysis
Demand Supply Analysis by Type
Demand Supply Analysis by Application
Demand Supply Analysis of Raw Materials
Benzene Price Analysis
Benzene Industry Drivers, Restraints, and Opportunities
Benzene News and Recent developments
Global Event Analysis
List of Key Players

Regional Price Analysis:

Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
North America: United States and Canada.
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru.
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.

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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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