HDAs began to see positive margins at $2/mt. The last time economics were profitable was August 26, according to Platts' data.
Benzene saw a surge in late trading Monday with deals done at 346, 348, 350 and 351 cents/gal ($1,034.50-1,049.50/mt) as buyers, who had held off on purchasing for a price drop, were forced into the market.
By early Tuesday, energy shifted lower, though benzene was still relatively strong at 345-353 cents/gal for October DDP or FOB USG basis.
Meanwhile toluene was talked between 280-289 cents/gal ($851-879/mt), which was mostly stable from Monday.
At 10:12 am Houston time (1512 GMT), November crude futures were trading on the NYMEX at $80.84/barrel, down $2.24, while RBOB shed 7.70 cents to 207.45 cents/gal.
With a toluene peg of 286 cents/gal and benzene at 350 cents/gal, HDA margins were positive by about $6/mt Tuesday. Compare this though to toluene disproportionation economics at $109/mt and MSTDPs at $177/mt.
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