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Asian pure benzene market spreads bullish sentiment
22
May '08
Asian pure benzene price rose again to hit US $1,300 per ton supported by breakthroughs in crude oil prices and also tight supply. Factories and traders raised rates by 8.5 percent, early May, while the negotiating level stayed within the range of $1265-1275 per ton FOB Korea.

July shipments reached the new high in 12 years at $1,250 per ton FOB Korea. Bullish manufacturers and traders believe that current support from crude oil and naphtha will help promote pure benzene prices further.

Traders in South Korea anticipate that pure benzene price may easily touch $1300 per ton. Some others, however, say that, while the price could possibly surpass $1300, rates might fluctuate around $1,250 per ton.

Japanese traders said negotiating price might stay somewhere around $1230-1260 per ton. Pure benzene in Asian market recorded a surge of $100 per ton in three weeks.

Fibre2fashion News Desk - China

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