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Asian benzene markets continue to rise
05
Jan '12
In the international benzene market, continuing with the rising trend Asian benzene grew by US$ 24.5 on December 31, 2011. February cargo was traded in the range of US$ 1075-1100/ton FOB Korea, while March cargo was negotiated in the range of US$ 1100-1105/ton and the price of April cargo was in the range of US$ 1100-1110/ton.

In the Asian benzene market two deals were finalized for March shipments at US$ 1090/ton and US$ 1103/ton FOB Korea. Similarly, a deal for April shipment was reached at US$ 1107/ton FOB Korea.

In China's domestic benzene market, transactions were in the range of 7900-7950 yuan/ton on January 4, 2012 in both North China and South China, while in East China the transactions were in the range of 8000-8050 yuan/ton.

In recent period, benzene manufacturers have increased prices, which has resulted in moderating influence on the market and benzene market has adjusted to the higher price level.

Presently, marketing atmosphere is calm, with sellers giving less offers and buyers showing limited interest in purchase. There is more of wait-and-watch sentiment in the market and downstream buyers are looking for goods that are in line with their demand. These trends indicate that the market conditions are expected to rise amid steadiness.

Meanwhile, Northwest Sales Brand of China National Petroleum has increased its listing price by 100 yuan/ton. In East China, external sales are implemented at 6950 yuan/ton (ex-factory) by Dushanzi Petrochemical and Urumqi Petrochemical and at 7300 yuan/ton by Lanzhou Petrochemical.

Fibre2fashion News Desk - China

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