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Global benzene prices likely to show upward trend
07
Dec '13
The prices of benzene showed upward trend in global markets in the last fortnight ending November 30, 2013 due to robust buying sentiments from the downstream market, gain in downstream value and tight product supply.
 
It is expected that in the ongoing fortnight ending December 15, benzene market will follow an upward trend and prices will remain stable-to-firm in tandem with firm demand from the downstream buyers and due to tight product availability.
 
In Korea, the average price of benzene in November 2013 was US$ 1260/ton, registering a decline of 7.44 percent over the average price of US$ 1360/ton during the same month last year.
 
In Korea, Japan and India, the average benzene prices in the last fortnight ending November 30 increased by 4.42 to 4.45 percent and were assessed in the range of US$ 1290-1300/ton as compared to average price in these countries being in the range of US$ 1235-1245/ton in the previous fortnight ending November 15.
 
On December 7, the price of benzene was assessed at US$ 1340/ton in Korea, US$ 1345/ton in Japan and US$ 1350/ton in India.
 
In Europe, the average price of benzene in the fortnight ending November 30 was US$ 1300/ton, up 8.79 percent compared to the average price of US$ 1195/ton in the fortnight ending November 15. On December 6, price was quoted at US$ 1390/ton.
 
In the US market, the average benzene price increased by 8.54 percent to 445 cents/pound in the fortnight ending November 30, as against the average price of 410 cents/pound in the fortnight ending November 15.
 

Fibre2fashion News Desk - India

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