The Chinese benzene market is more stable with little price volatility and support from overseas market to China's benzene markt is limited.

Benzene market prices in East China was in the range of 7,600-7,650 Yuan / ton, in South China it was in the range of 7,600-7,700 Yuan / ton and in North China it was around 7,500-7,600 Yuan / ton on June 13.

Benzene market in Shandong province was light on June 13. Cargo holders made sporadic offers of around 7,700 Yuan / ton, downstream manufacturers were interested in about 7,650 Yuan / ton and actually negotiated prices were in the range of 7,650-7,700 Yuan / ton.

In company news, the East China sales branch of Sinopec has lowered its benzene listing price by 300 Yuan to 7,500 Yuan / ton.

The uniform price implementation level of Shanghai Petrochemical, Yangzi Petrochemical, Zhenhai Refining is 7500 Yuan/ ton. The benzene price of CNPC in North China is 7,700 Yuan / ton. 

The downstream demand looks difficult to improve; therefore, benzene market would remain in weak consolidation. The market is expected to mainly maintain consolidation in the short term.

Fibre2fashion News Desk - China