Benzene Falls as Styrene Weakens.(benzene prices for January, 2001, fall 3 cents per gallon from December, 2000, prices)(Brief Article)(Statistical Data Included)

BENZENE PRODUCERS HAVE SETTLED January contracts at $1.37/gal fob, a 3-cts/gal decline from December. The settlement reflects lower crude oil values and continued weakness in styrene markets, market participants say.

Spot prices rose 5 cts/gal from late December, to $l.38-$1.40/gal fob last week, due to production problems at some units over the holidays and shipment delays caused by poor weather. Bids for the first half of January deliveries at $1.37/gal fob failed to elicit response from sellers, who were aiming for $1.39-$1.40/gal fob, traders say. The unplanned outages took 20,000-30,000 bbl of benzene out of the market in December, sources say. BP Chemicals is …