Benzene: Trading
The March 2026 price spike, day by day
What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.Who buys, and where
- China (largest importer)
- United States (when arbitrage opens)
- Taiwan and Southeast Asia
Who sells, and from where
- South Korea
- Japan
- India
- Middle East (Saudi Arabia, Oman)
- Thailand
Price benchmarks
| Benchmark | Publisher | Basis |
|---|---|---|
| Platts benzene FOB Korea | S&P Global Platts | spot, daily |
| Platts benzene CIF ARA | S&P Global Platts | spot, daily |
| US Gulf Coast benzene prompt month | OPIS and Platts | cents per gallon, daily |
| OPIS FOB Korea benzene | OPIS | spot, daily |
| Sinopec East China list price | Sinopec (reported by OPIS and S&P Global) | producer list, yuan/t |
Exchanges
| Venue | Contract | Notes |
|---|---|---|
| Dalian Commodity Exchange | Pure benzene futures and options (approved June 2025) | Contract size not confirmed in sources reached; the April 2026 contract (BZ2604) hit its limit-up at CNY7,546/t on 6 March 2026 (S&P Global). |
Contract types
- Term contracts priced on monthly Asian Contract Price (ACP) or average of Platts/ICIS assessments
- Spot cargoes, typically 5,000 t lots in Asia
- European monthly contract price (indicative)
- US monthly contract and spot barges
Traders and distributors
- Glencore
- Vitol
- Trafigura
- Mitsui
- Sumitomo
- Integrated producers' own trading arms (Sinopec Chemical Commercial Holding, SK)
How Indian buyers price it
- Indian producers price domestic benzene at export parity to Asian markers (FOB Korea or CFR China) less freight; buyers such as LAB, cumene and phenol makers negotiate monthly against these markers (indicative).
- Benzene in India averaged about $830/t in Q1 2026, up 6.4% on Q4 2025 (IMARC).
Recent price points
| Date | Price | Basis | Source |
|---|---|---|---|
| 2 Mar 2026 | $832.67/t | FOB Korea | S&P Global Platts |
| 6 Mar 2026 | $967.67/t | FOB Korea | S&P Global Platts |
| 6 Mar 2026 | $1,031/t | CIF ARA | S&P Global Platts |
| Q1 2026 | $830/t | India | IMARC |
| Apr 2026 | $1,139/t (monthly average) | FOB Korea | OPIS |
Good sources to follow
OPIS Energy Market News (petrochemicals)freemium research site · OPIS (Dow Jones)Weekly Asian benzene, naphtha and derivative analysis
S&P Global Commodity Insights chemicals newsfreemium research site · S&P GlobalPlatts aromatics price news
Mysteel Global petrochemicalsfreemium research site · MysteelChina capacity, inventory and import data
Asian Chemical Connectionsfree blog · John Richardson, ICISChina-driven petrochemical cycles