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Benzene market experience a fluctuating trend
11
Jul '08
On July 8, benzene market in the domestic market appeared sluggish due to slack demand from downstream industry and for that reason transactions were poor.

In east China, mainstream market price stood between 10500-10600 yuan per ton; in North China market, offers from traders were stable, mainstream price adjusted down to 10450 - 10,550 yuan per ton, but trade volume was limited. Manufacturers in Northwest region held more supply, trade price lowered to about 10,000 yuan per ton; in South China region, benzene market price maintained at 10650-10700 yuan per ton.

Delivery price of hydrogenation benzene in East China region ranged between 9800 to 10,600 yuan per ton. Market price of refined benzene was in 9300-9500 yuan per ton.

Prices in the other Asian region also fluctuated. Benzene market in Korea was down by US $8 per ton (FOB Korea) in the spot market. But later in the day stimulated by strong buying interest, August benzene contract only fell $2 per ton; prices on FOB Korea basis closed at $1319.50- $1320.50 per ton, FOB Southeast Asia closed at 1306.50-1307.50 per ton.

Experts are of the opinion that the drop in several previous sessions was partly caused by higher stock in regional market and due to absence of regular buyers. The discussed long-term impacting factors were the closed arbitrage window between Asia and the US.

But these factors, under the premise of high-costs, have little effect on Asian market prices.

Since Monday, the maintenance time of aromatics reforming combination device of S-Oil Corporation in Onsan, South Korea reduced from 10 days to 7 days, during the time, loss in production is expected to be 5000-7000 tons.

Market express of benzene price on July 08

Prices in Asian region:

Benzene, FOB Southeast Asia, at US $1308.50-1309.50 per ton

Prices in the United States:

Benzene, FOB, U.S Gulf for July, at cents 418.25-418.75 per gallon
Benzene, FOB, U.S Gulf for Aug, at cents 420.75-421.25 per gallon

Fibre2fashion News Desk - China


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