Chemicals & Utilities Prices

Summary

CCM Intel's benzene price data shows a clear regional hierarchy: Europe is the premium market (daily mean $1,080.89), followed by Asia Pacific ($970.38), North America ($773.22) and Middle East ($683.62). Daily volatility is contained (std $9–24), while monthly series show much wider ranges, indicating larger swings over the longer horizon.

Key Highlights

›Europe: The daily mean is $1,080.89 (range $1,047.68–$1,126.12). The monthly mean is higher at $1,151.45, with a peak of $1,341.49 and a low of $1,006.38 (std $90.88, the widest dispersion).

›Asia Pacific: The daily mean is $970.38 (range $935.50–$1,002.12), about 10% below Europe. Monthly prices span $801.49–$1,093.64, with a mean of $939.69.

›North America: The daily mean is $773.22, roughly 14% below the monthly mean of $900.38. Recent prices sit well below the longer-run average, and the daily std of $23.50 is the highest among the regions' daily series.

›Middle East: This is the lowest-priced region, with a daily mean of $683.62 and a monthly range of $539.87–$766.76. Its daily mean is about 37% below Europe's.

›Volatility: Monthly std ranges from $58.16 (North America) to $90.88 (Europe). Daily std stays at or below $23.50, so the near-term trend is stable relative to the longer cycle.

Drivers & Risks

›Drivers: Regional feedstock (naphtha, crude) costs, refinery and reformer run rates, and downstream styrene demand underpin the spreads. Europe's premium reflects higher energy and operating costs and tighter import-dependent supply.

›Risks: Crude oil swings and unplanned plant outages could widen the monthly volatility seen in Europe and Asia Pacific. Weak downstream demand, particularly in styrene and derivatives, could pressure prices.

›Watch: Arbitrage flows from the lower-priced Middle East and North America into Europe and Asia could narrow regional spreads if freight conditions allow.