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Asian benzene price takes a downspin
07
Aug '08
On Wednesday, August 6, Asian benzene saw a down trend. According to market analysts, there are mainly three reasons for this plunge. Firstly, the United States and the European market weakened; secondly, prices of crude oil fell, and finally the market demand from the Far East was weak.

FOB Korea closed in US $1208.50 -1209.50 per ton; Southeast Asia stood at $1195.00- 1196.00 per ton, both down by $30 per ton compared to previous day.

It has been reported around 25,000-50,000 tons of benzene will be shipped from the United States to Europe in late August.

On Wednesday, benzene prices quoted for the Asian market stood with in the range of $1170 - $1215 per ton, FOB, with a difference of $45 per ton.

In spot market, one of the buyers purchased benzene cargo for September shipment from at $1210 per ton.

It is to be noted that Asia benzene has dropped $66 per ton; the current price set a 12-weeks low.

For World market prices click here

Fibre2fashion News Desk - China

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