Benzene prices drop in Asia and Europe last fortnight

07 Mar '14

2 min read

The prices of benzene decreased in both Asian and European markets in the last fortnight ending February 28, 2014, compared to the previous fortnight ending February 15, 2014.

In Asian markets, the drop in benzene prices in the last fortnight was due to subdued demand from the downstream market and weak market fundamentals during that period.

In Korea, the average benzene price in the last fortnight was US$ 1285/ton, showing a decline of 3.02 percent from the previous fortnight’s average price of $1325/ton.

In February 2014, the average benzene price in Korea was $1305/ton, registering a fall of 7.62 percent compared to the average price of $1410/ton in the same month last year.

Continuing with the downtrend, benzene prices in Korea slipped further and were assessed at $1260/ton on March 6, 2014.

Average prices of benzene showed downtrend in both India and Japan as well, in the last fortnight and prices were assessed at $1295/ton and $1290/ton, respectively, compared to the average price of $1335/ton and $1330/ton in the previous fortnight. On March 6, 2014, average prices were spotted at $1270/ton and $1265/ton in India and Japan, respectively.

In the European market, prices of benzene decreased due to ample product availability in the market, sluggish demand sentiments, and drop in benzene prices reported in Asian markets. The average price decreased by 2.46 percent to $1385/ton in the last fortnight, vis-à-vis the average price of $1420/ton in the previous fortnight.

In the U.S.A market, however, benzene prices increased due to firm sentiments and higher energy value. Prices went up marginally by 0.99 percent to 510 cents/pound in the last fortnight as compared to the average price of 505 cents/pound in the previous fortnight.

Fibre2fashion News Desk - India

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