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Chinese benzene market lacks upward momentum
Oct '12
Pure benzene market in China is lacking upward momentum and limited trading is seen in recent days.
Although there is a gradual increase in supply, demand from downstream buyers remains flat and domestic market is witnessing a strong wait-and-see sentiment.
At present, market transactions are in the range of 10,100-10,150 yuan/ton in East China, 9,850-10,000 yuan/ton in South China and 10,000-10,100 yuan/ton in North China.
Meanwhile, the ex-factory price of benzene from the East China branch of Sinopec is 10,000 yuan/ton, with stable sales and less inventory pressure.
The ex-factory price of benzene from the PetroChina plant in North China is 10,050 yuan/ton, with production and sales being smooth. However, supply from the factory is tight.
In short-term, pure benzene market in China is likely to remain range bound or decrease slightly.

Fibre2fashion News Desk - China

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