Benzene prices decline in global markets last fortnight

11 Nov '13

2 min read

The fortnight ending October 31, 2013, saw the prices of benzene declining in global markets.

In Korea, the average price of benzene decreased from US$ 1,280/ton in the first fortnight of October 2013 to US$ 1,240/ton in the second fortnight, registering a drop of 2.94 percent, due to sluggish demand from the downstream buyers coupled with the weak upstream energy market.

Compared to the average October benzene price of US$ 1,260/ton in Korea in October 2013, the average price in the same month last year was US$ 1,255/ton, showing a marginal increase of 0.30 percent.

Continuing the downtrend, benzene price in Korean market was US$ 1,230/ton on November 7.

In India, average benzene price declined by 2.33 percent to US$ 1,255/ton during the fortnight ending October 31, compared to average price of US$ 1,285/ton observed in the previous fortnight ending October 15. Price declined further and was assessed at US$ 1,240/ton on November 7.

Benzene price showed similar trend in Japan and the average price was US$ 1,250/ton in the last fortnight, which was a drop of 2.72 percent compared to the previous fortnight. The downtrend continued and price was assessed at US$ 1,235/ton on November 7.

In Europe, benzene price dipped by a sharp 5.65 percent to US$ 1,170/ton in the fortnight ending October 31, compared to average price of US$ 1,240/ton in the previous fortnight due to subdued demand in the region and price fall recorded in upstream products.

In the US, average benzene price fell by 3.57 percent to 405 cents/gallon in the fortnight ending October 31, as compared to 420 cents/gallon FOB US in the previous fortnight, due to lackluster demand from downstream buyers.

Fibre2fashion News Desk - India

More Textiles News - Global...