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China's domestic benzene market remains steady
20
Dec '12
China's domestic benzene market remained steady on December 19. 
 
Market supply was at a low level. Demand appeared sluggish as the operating rate of downstream manufacturers was not high. Thus, supply and demand balanced and quotation remained stable.
 
In East China market, Benzene supply remained tight. But, downstream buyers were in wait-and-watch mood and actual transactions were limited.
 
In North China, the inventory levels with manufacturers remained low. Anticipating a hike in price by petrochemical companies, traders preferred to sit on the sidelines. 
 
In East and North China, benzene transactions were in the range of 10,500-10,550 yuan/ton, while the transactions in South China market were in the range of 10,400-10,550 yuan/ton.
 
Currently, overseas benzene market is slightly weakening and overall macro aspects are having little impact on the prices.
 
Consolidation and speculation activities have gradually increased in recent time, but trading in spot market remains light.
 
The overall inventory level with manufacturers is low, but there is strong resentment to higher price from downstream sector. Buyers are showing interest to buy only at low-end prices.
 

Fibre2fashion News Desk - China


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