May '12
In the last fifteen days of April, price of benzene moved up slowly and trading sentiment in market calmed down as future outlook remained bleak.
Buyers held on to their bids as more plants restarted after planned outage. By the end of the fortnight, selling offers for benzene inclined up with revival of demand from plastic sector.
Benzene sellers in Europe and U.S.A successfully lifted up their offers, as demand increased particularly for May delivery.
In the same period, caprolactam (CPL) prices declined as demand eased down. In Chinese market, buyers rigidly held onto buying offers.
Despite lack of buying, sellers did not compromise on selling quotations and adopted firm stance of wait and watch.
In the last week of April, selling offers for CPL had overall declined but exhibited range bound trend.
Demand in CPL futures market and also in European market revived slowly. Europe remained a net exporter of CPL to Chinese market.
Fibre2fashion News Desk - India
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