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China's benzene market consolidates on July 11
12
Jul '12
There was a gentle market rally and China’s domestic benzene market consolidated on July 11.
 
In East China, market transaction for benzene was in the range of 7750-7850 Yuan/ton, while the transactions in South China and North China were in the range of 7600-7750 Yuan/ton and 7700-7750 Yuan/ton, respectively.
 
The high crude oil price seems to have little impact on Chinese domestic benzene market. At present, the spot market lacks resources and it is difficult to find petrochemical products at lower prices, so traders are reluctant to sell at lower prices.
 
On the other hand, buyers are not inclined to purchase at higher prices, and hence, the overall market turnover is limited.
 
In the coming period, some refineries will gradually close for maintenance and hence, tight supply will continue to provide support to market rebound, and the benzene market is expected to maintain high-level consolidation.
 
Meanwhile, the north-west branch of China National Petroleum Corporation has raised its listing price of benzene by 200 Yuan/ton.
 
The selling price of benzene from Dushanzi Petrochemical and Urumqi Petrochemical is 6550 Yuan/ton (ex-factory) to outside users, whereas the selling price from Lanzhou Petrochemical is 7,000 Yuan/ton to outside users.
 

Fibre2fashion News Desk - China

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