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Chinese benzene market sees thin trading volume
08
Nov '12
Trading volume remained thin in Chinese benzene market on November 7, as the market maintained its high level consolidation trend.
 
In East China, market transactions for benzene were in the range of 10,300-10,350 yuan/ton, whereas the transactions in North China and South China were in the range of 10,350-10,400 yuan/ton and 9,950-10,100 yuan/ton, respectively.
 
Market conditions were stable as there was support from sharp rise of crude oil price as well as offers from overseas. On the other hand, downstream buyers were not willing to pay high price owing to cost pressures and hence their purchases were limited to their immediate demand.
 
Currently, benzene inventory levels in market remain at low level, and the overall market trade remains flat. But, analysts expect the Chinese domestic benzene market to move higher in the short-term.
 
Meanwhile, the East China branch of Sinopec is quoting its ex-factory price at 10,100 yuan/ton. There is no inventory pressure and sales are normal.
 

Fibre2fashion News Desk - China

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