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Consolidation continues in global benzene market
26
Apr '12
The current benzene market is mainly based on consolidation and the rise in listing price has boosted benzene prices.

The trading atmosphere in benzene market appears moderate, most talked orders are small orders, and negotiation of large orders is limited.

Plants of downstream sector are under maintenance; therefore, downstream factories procure in line with demand.

In the Asian market, benzene rose US $2 / ton on April 24. Two transactions of July cargo were done at US $1,196 / ton (FOB Korea).

The increase in buyer's interest boosted the market and currently most orders were meant for the US Gulf region.

European benzene grew $8 /ton. May cargo was negotiated in the range of $1240-1250 / ton (CIF ARA) in the morning.

June cargo was negotiated in the range of $1,230-1,240 / ton. Two deals of May cargo were reached at $1250 / ton.

April cargo was negotiated in the range of $1250-1260 / ton in the afternoon. Price maintained in the range of $1250-1260 / ton, while transaction intention was $1,255 / ton.

US benzene fell 1 cent and May cargo was discussed in the range of 424-428 cents / gallon (FOB US Gulf).

In China's domestic market on Wednesday, transactions were in the range of 8,550-8,600 Yuan / ton in East China, 8,400-8, 600 Yuan / ton in South China and were around 8,450-8,500 Yuan / ton in North China.

Fibre2fashion News Desk

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