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Asian benzene trends slip on Wed
30
Jun '11
In the Asian market, benzene fell US $4 from the previous trading day to close at US $1,039-1,042 / ton (FOB Korea) on June 29.

China's domestic benzene market appeared light and stable on Wednesday, negotiation atmosphere appeared deserted.

Market price in East China ranged between 7,500-7,550 Yuan / ton, market price in South China stood at 7,500-7,600 Yuan / ton and mainstream offers in North China touched 7,500-7,600 Yuan / ton.

Market conditions of domestic benzene were light and stable, due to the impact of rebound in international crude oil market, but negotiation was difficult, due to rich supply in the market, low operating rate of downstream factories and reduced demand.

Market participants expect that domestic market will still be based on weak consolidation mainly in the short term with little opportunity of moving higher.

Fibre2fashion News Desk

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