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Sinopec hikes benzene price on tight supply
Sep '12
Owing to tight supply of benzene in Chinese markets, the East branch of Sinopec has increased its price of pure benzene by 300 Yuan to 9,800 Yuan/ton.
The new price will be implemented by Yangzi Petrochemical, Shanghai Petrochemical, Zhenhai Refining & Chemical and Jinling Petrochemical.
In East China and North China, benzene was traded in the price range of 9,700-9,800 Yuan/ton, while it was traded in the range of 9,350-9,500 Yuan/ton in South China.
Downstream manufacturers have inadequate reserve of benzene and cargo holders are reluctant to sell at lower prices. Hence, downstream buyers are only purchasing in accordance with their requirement for production.
In short-term, pure benzene market in China is likely to remain at high level or even increase further.

Fibre2fashion News Desk - China

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