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Benzene price declines in Chinese import market
19
Jul '12
The prices of benzene imported from other countries fell in Chinese markets on July 18.
 
The price of Asian benzene declined by US$ 6/ton owing to reduced demand from downstream industries.
 
September benzene shipment price was quoted in the range of US$ 1150-1165/ ton FOB Korea, while the offers for October shipment decreased from US$ 1135/ton to US$ 1130/ton during the session. 
 
Current market supply of benzene is limited, and sellers are reluctant to offer at lower prices. Hence, market sentiment looks more positive, and the slowing down of demand from the downstream sector has not created larger impact on benzene market.
 
In addition, some enterprises plan to shutdown for maintenance in the second half of the month, therefore the market will continue to operate at high level.
 
Although there is no announcement yet, the East China branch of Sinopec is expected to increase its listing price of benzene by 300-400 Yuan/ton in the coming days.
 
In South China, Sinopec's benzene inventories are as follows: Moming Petrochemical holds about 12000 tons, Zhenjing Dongxing holds about 2300 tons, Beihai branch holds less than 600 tons, and Guangzhou Petrochemical holds light stocks. 
 
Similarly, in Central China, Sinopec's Benzene inventories are: Changling Refinery holds light stocks, Louyang Petrochemical holds about 1500 tons, Zhongyuan Ethylene holds about 500 tons, Wuhan Petrochemical holds light stocks, and Jinmen Petrochemical holds about 720 tons.
 

Fibre2fashion News Desk - China

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