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Slight volatility foreseen in Chinese benzene market
06
Dec '12
There was a reduction in overall turnover in Chinese benzene market on December 5. However, prices remained steady due to continued strong trend in prices of imported benzene.
 
In East China, benzene prices hovered around 10,550 yuan/ton in spot market. The volume of goods available for sale was not large and manufacturers struck to their high price levels. Downstream buyers were reluctant in purchasing more quantities due to high prices.
 
In East China’s mainstream market, too, supply was tight and market offers of benzene were in the range of 10,500-10,600 yuan/ton.
 
In Shandong Province, market offers for benzene were in the range of 10,500-10,550 yuan/ton, but downstream manufacturers were under cautious mood and overall market sentiment was dull.
 
In recent times, the rising benzene prices in international markets is giving support to Chinese domestic benzene market and manufacturers are in a mood to push prices further northwards. 
Also, market supply of benzene is tight, which is supporting high price level. However, demand from downstream sector is witnessing downturn.
 
Market analysts expect the Chinese domestic benzene market to remain slightly volatile with subdued trade volume in the coming weeks.
 

Fibre2fashion News Desk - China

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