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Chinese benzene market continues to be stable
Oct '12
Benzene market in China is continuing to remain stable and the trading price in South China market currently hovers in the range of 9,650-9,800 yuan/ton.
In North China and East China markets, benzene prices are currently quoted in the range of 10,000-10,100 yuan/ton and 10,100-10,150 yuan/ton, respectively.
The effect of continuous weakening of crude oil prices is being balanced because of higher price of imported goods, which is providing support to current price levels in the domestic market.
Traders are willing to quote higher prices owing to relatively tight supply in the domestic market. Hence, Chinese benzene market is likely to remain at high-level in the short-term.
Meanwhile, the South China branch of Sinopec is offering benzene at 9,800 yuan/ton. Inventory pressure is not high and both production and sales are normal.

Fibre2fashion News Desk - China

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