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Asian benzene market rebounds on Wednesday
21
Aug '08
A dull atmosphere engulfed Benzene market over weak demand on Wednesday. But influenced by September contract prices of benzene in the United States and higher crude oil, Asian benzene rebounded by US $7 per ton, FOB Korea, at $1132.25-$1133.25 per ton.

Quotations for Southeast Asia stood with in the range of $1118.75-$1119.75 per ton; price offer for October arbitrary shipment in the Asian region increased to $1157.50 per ton, FOB.

On this day, GS Caltex sold one cargo for October arbitrary shipment to SK Networks at $1135 per ton. On the other hand, Winsway sold one cargo to Samsung Corp for the month of October only at the same price.

Experts are of the opinion that Asian market rebound can be attributed to the increase of benzene price in the United States and higher crude oil, and fluctuations in crude oil and high inventory pressure will continue to dominate Asian market.

For World market prices click here

Fibre2fashion News Desk - China


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