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Domestic pure benzene market to remain stable
21
Feb '08
Crude oil price rose, international offers for Asian region went up on February 20, as a result, China's domestic pure benzene market price followed the suit. However, market negotiations were flat.

In the Asian Markets, pure benzene price moved up to US $22 per ton, FOB Korea closed at $1099-1100 per ton, driven by strong rise in crude oil price and recovery of pure benzene market in the United States. On Wednesday, February 20, FOB valuation price at $1099.50 per ton, had set a new record in 38 weeks.

In the domestic arena, pure benzene market prices saw a rising trend. Eastern China market price was 8600-8650 yuan per ton, Southern region price was 8650-8700 yuan per ton, where as Northern portion of the country quoted at 8650-8700 yuan per ton.

Taking about the factors that affected market trend, crude oil prices were in high level consolidation, Asian quotations outside China were higher, domestic refinery prices increased, pure benzene market sentiment was dull. Market investors expect that recent domestic pure benzene market will mainly present a stable performance.

Fibre2fashion News Desk - China

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