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 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Archroma

Textiles | On 22nd Jun 2017

Archroma’s EarthColors dyestuff range wins Gold Winner

Archroma, a global leader in colour and specialty chemicals, has...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

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

Marcel Alberts
Eurofibers

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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:
June 2017

June 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