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Discussions subdued in benzene market
10
May '12
Benzene market has slightly fallen due to continued decline of crude oil price, but limited sources limits the declining space.

The continuing decline in crude oil market, has affected mentality of entire benzene market, so discussion atmosphere is subdued, negotiations focus on small orders at low end.

In the Asian market, July benzene was priced at US $1,172 / ton (FOB Korea), but transaction was light.

In Europe, benzene prices fell and May and June cargoes were traded in the range of $1245-1270 / ton and $1235-1265 / ton (CIF ARA), respectively in the morning.

May and June cargoes rebounded to $1255-1275 / ton and $1240-1265 / ton, respectively in the afternoon. Some traders said the market might follow up the rise of crude oil price.

US benzene price fell 3 cents. May cargo was discussed in the range of 413-417 cents / gal (FOB USG), two transactions of June cargo were traded at 411 cents / gallon and 409 cents / gal (DDP USG), respectively.

In China, benzene was traded in the range of 8500-8550 Yuan / ton in East China, in South China it was in the range of 8400-8600 Yuan/ ton and in North China, it stood around 8450-8500Yuan / ton.

Purchase situation in East China is acceptable, support from downstream demand is limited, and therefore, benzene market is based on vulnerable consolidation.

Fibre2fashion News Desk

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