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Low demand poses risk to Chinese benzene market
09 Aug '12
1 min read
The outlook for the Chinese benzene market shows great downside risk owing to lesser demand from terminal and downstream sectors.
In East China, benzene was traded in the range of 8,800-8,900 Yuan/ton on August 8. There was limited market supply and spot supply was also tight. Stock holders showed interest in small orders, but downstream buyers did not show much enthusiasm.
On August 8, Sinopec raised benzene price at its various branches to 8,700 Yuan/ton.
Sinopec increased its benzene price as offers of imported benzene continue to rise, while the inventory level of benzene is very low.
As a result of Sinopec’s increasing its benzene price, prices of some products in benzene market are likely to increase.
At present, less supply coupled with high price is providing support to the benzene market. But, insufficient demand from downstream buyers poses large downside risk.
Fibre2fashion News Desk - China
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