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Chinese benzene market trends on Oct 31
01
Nov '12
In East China, benzene prices were in the range of 10,150-10,200 yuan/ton on October 31.
 
In South China, market transactions for benzene were in the range of 9,850-10,000 yuan/ton, while market transactions in North China were in the range of 10,200-10,250 yuan/ton on October 31.
 
Currently, benzene market continues to maintain high-level consolidation due to rising crude oil prices and increasing offers of imported benzene.
 
In addition, Sinopec has raised its listing price as inventory level still remains low.
 
However, demand from downstream manufacturers is limited and there is resentment towards high-level price. Hence, actual market transactions are less.
 
Meanwhile, the East China branch of Sinopec has announced its benzene price at 10,100 yuan/ton for early November. The new price is being implemented by Jinling Petrochemical, Shanghai Petrochemical, Yangzi Petrochemical and Zhenhai Refining & Chemical.
 
In the short-term, the current trend is likely to persist in the Chinese benzene market, as there are no factors that point towards a change in current trend.
 

Fibre2fashion News Desk - China


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