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Demand shrinks in Chinese benzene market
Jan '13
China’s benzene market witnessed a decline in demand in view of the approaching spring festival holidays.
The domestic benzene market in China remained flat on January 30. There was a rise in price of crude oil price and offers of imported benzene rebounded. However, buyers were cautious in view of the approaching spring festival holidays. There was a decline in demand from downstream industries and overall trading activities were light.
In East China, supply of benzene was normal, but buyers adopted a cautious approach. Market price was around 10,700 yuan/ton, but trading activities appeared calm.
In North China, the mainstream price of benzene was around 10,650 yuan/ton, but procurement by downstream industries was less and overall atmosphere looked deserted.
The increase in crude oil prices is providing support to prices of benzene, but downstream factories are reducing their operating rate as it is close to the spring festival holidays. As a result, procurement has decreased and market activities are reduced.
Chinese benzene market is expected to maintain the trend of steady consolidation in the short term.

Fibre2fashion News Desk - China

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