Home / Knowledge / News / Textiles / Low crude price shatters benzene markets
Low crude price shatters benzene markets
23
Oct '08
The consequence of global financial meltdown is apparent in almost every aspect of life. Effects will be such, experts are anticipating that demand for energy will slow down and price will plunge up to US $50 per barrel. Thus prices of downstream products will also go down.

This is quite evident from the fact that Asian benzene markets fell US $100 per ton on Wednesday, FOB Korea closed at $496.50-$497.50 per ton, FOB Southeast Asia closed at $480.00-$481.00 per ton, benchmark price of October pure benzene in South Korea narrowed 51 percent to touch $526 per ton.

Few of the manufacturers are finding it difficult to cope with the situation; they are not able to cut back their production, as they have to fulfill supply contracts.

Since the starting of third quarter, Japanese oil companies have already started maintaining their operation rates at many of the benzene plants at 80 percent; HAD plant of Sanyo Petrochemical at Chiba with output capacity of 300,000 tons per year maintains an operation rate at 80 -85 percent.

Today's ex-factory benzene price from Sinopec Guangzhou Branch is implemented at 5500 yuan per ton, including Maoming Petrochemical, Changling Refinery and Wuhan Petrochemical.

As a result of weak demand, the ex-factory settlement price from Sinopec Beijing branch for October stood at 5500 yuan per ton.

Implementation price from Zhenhai Refining and Chemical, Jinling Petrochemical, Shanghai Petrochemical under Sinopec Shanghai Branch is quoted at 5500 yuan per ton.

Ex-factory benzene price of Sinopec for Northeast area is adjusted to 5350 yuan per ton, including Jilin Petrochemical and Daqing Petrochemical, currently some plants facing stock pressures.

Benzene plant of Qingdao Great Refinery has been operating normally; its price follows the uniform level from Sinopec Beijing branch at 5500 yuan per ton.

China's total benzene production registered 336,000 tons in September 2008, compared to 327,000 tons in the same period last year, a year-on-year increase of 2.5 percent.

Up to September this year, cumulative production of the region amounted to 3.11 million tons, an increase of 2.3 percent from the total production of 3.04 million tons over the same period last year.

For world market prices click here

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X