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Chinese benzene market dips on Wed
11
Aug '11
The Chinese domestic benzene market declined on Wednesday and trading activities were flat.

Market price in East China ranged between 8,250-8,300 Yuan / ton, in South China it stood at 8,450-8,500 Yuan / ton and in North China it was quoted at 8,000-8,100 Yuan / ton.

Meanwhile, the Northwest marketing company of CNPC reduced its benzene price by 200 Yuan / ton. The unified selling price of Dushanzi and Urumqi Petrochemical in East China was reduced to 7,450 Yuan / ton (ex-factory).

Among others, Lanzhou Petrochemical in East China too reduced its offer to 7,750 Yuan / ton.

Despite the sharp intraday rebound of crude oil and limited market resources, market sentiment still significantly weakened, buyer's interest was limited, watching atmosphere increased and market trade was flat.

Market players expect that in the case of limited market resources, domestic benzene market will show a steady trend amid consolidation in the short term.

Fibre2fashion News Desk - China

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