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Chinese benzene market likely to remain at high level
Aug '12
In East China, offers of pure benzene were in the range of 8800-8900 Yuan/ton on August 22. The price of hydrogenated benzene was quoted in the range of 8750-8800 Yuan/ton. Moderate transactions were reported.
In Shandong market, benzene prices were quoted in the range of 8800-8950 Yuan/ton on August 22. The market was waiting for new price guideline and was in a wait-and-watch mode. The overall market situation remained calm.
In recent times, Chinese benzene market has remained at higher levels and transactions have been mainly for small orders.
There is tight supply, due to which the market offers for benzene are strong and firm.
The market supply of benzene is expected to remain tight as some petrochemical plants are planning to shutdown for maintenance in near future.
Hence, the Chinese benzene market is likely to remain at high level amid narrow fluctuation in short-term.
Meanwhile, the sales branch of Sinopec in South China is offering benzene at 8700 Yuan/ton. Production and sales are normal and stock pressure is not high.

Fibre2fashion News Desk - China

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