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China's benzene market up on limited inventory
20
Oct '11
In China, market price for benzene increased on Wednesday owing to limited overall inventory.

The price in East China was 7700-7800 Yuan/ton, while in South China transactions took place in the price range of 7600-7800 Yuan/ton. In North China, the price quoted was 7650-7750 Yuan/ton.

The demand from downstream industries was moderate. Although crude oil rebounded, pressure was created due to price adjustment by enterprises. There was limited interest in short-term speculation, but there was interest in replenishment of stock. Hence, the scope for downward trend in the Chinese domestic benzene market is likely to be limited in the coming days.

There were some adjustments made in factory price. Northwest Brand of China National Petroleum reduced its benzene listing price by 200 Yuan/ton. The ex-factory price of Dushanzi and Urumqi Petrochemical for sales in East China was 6,600 Yuan/ton, while the price of Lanzhou Petrochemical was 6950 Yuan/ton.

Fibre2fashion News Desk - China

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