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Benzene prices moves downward
11
Sep '08
Impacted by some negative factors Asian benzene market prices plunged by $12.5 per ton on Wednesday. Offer prices in the morning stood at $1125 per ton for October contract and for November deal, quotations were $1120 per ton.

Due to lack of enthusiasm among buyers market activity remained quite dull. Spot prices during market closing stood at $1105-1120 per ton for October shipment and at $1105-1115 per ton for November.

In China, Wednesday benzene market was stable at RMB 8,700-8,800 per ton, East China. Regional demand was still narrow. Some of the traders tried to liquidate their surplus stocks.

In the European region Benzene market prices fluctuated. Offer prices stood at around $1150-1160 per ton CIF ARA for September while bids were heard at around $1135-1140 per ton CIF ARA.

As buyers showed some interest prices moved up to stand at around $1140-1145 per ton CIF ARA for September while sellers remained quiet in the market. Thus by closing, offer prices stood at around $1145-$1155 per ton CIF AR for September and at around $1148-$1155 per ton CIF ARA for October.

Benzene prices in the US market advanced slowly as energy market remained weak. In the morning session offers stood at $4.10-4.20 per gallon for September.

As the day progressed, bids moved on the higher side. The market closed with spot prices standing at around $4.25-$4.30 per gallon for the domestic use; and for the export the prices stood at $4.30-4.35 per gallon FOB for September; for the October shipment, domestic prices were quoted at $4.07-$4.09 per gallon and at $4.10-$4.20 per gallon FOB for October.

Fibre2fashion News Desk - China

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