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Strong wait & watch attitude in benzene market
23
Feb '12
In the international market, Asian benzene price fell US $1 on February 22. Seller's intention for March cargo was US $1200 / ton (FOB South Korea) and negotiated price for April cargo was in the range of US $1195-1220 / ton.

US benzene price rose 6 cents and February cargo was priced at US $427 cents / gallon (FOB US Gulf) or 426 cents / gallon (DDP US Gulf). March cargo rose to 426 cents / gallon (FOB US Gulf) or 425 cents / gallon (DDP US Gulf).

European benzene price rose by $4.5 / ton. March cargo was negotiated in the range of $1260-1280 / ton (CIF ARA) in the morning. Japanese traders and Chinese traders negotiated around $1260-1275 / ton and discussion mainly focused in the range of $1270-1275 / ton at closing time.

In the Chinese domestic market, market transaction in East China was in the range of 8,450-8,550Yuan / ton, in South China it was in the range of 8,400-8,600 Yuan / ton and in North China it was in the range of 8,450-8,550 Yuan / ton.

Flat procurement interest of downstream manufacturers leads to strong wait-and-see atmosphere from cargo holders. Buyers are mainly concentrating on small orders, while they show less interest in large orders.

Fibre2fashion News Desk

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