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Asian benzene prices increase
24
May '12
In the global markets, Asian benzene rose US $17 to US $1091 / ton (FOB Korea) on May 22.

On the same day, three transactions of August cargoes were reached at $1080 / ton, $1,085 / ton and $1,085 / ton (FOB Korea), respectively.

June cargo was traded at $1090 / ton and July cargo was traded at $1090 / ton in Asian markets.

In European markets, May cargo was discussed in the range of $1250-1290 / ton (CIF ARA) in the morning, June cargo was negotiated in the range of $1220-1280 / ton, while discussions ranged in between $1205-1250/ ton.

Buyer's bid for May cargo increased to $1290 / ton at closing time, June cargo was talked in the range of $1240-1260 / ton and July cargo was discussed in the range of $1200-1215 / ton.

US benzene rose 6 cents. Buyer's intention for June cargo was 403 cents / gal (FOB USG).

On May 23, benzene market transaction in East China was in the range of 8,200-8,300 Yuan / ton, in South China it was at 8,300-8,400 Yuan / ton and in North China; it was in the range of 8,200-8,300 Yuan / ton.

The market is expected remain in vulnerable consolidation mode due to instability of external forces in recent time.

Fibre2fashion News Desk - China

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