Home / Knowledge / News / Textiles / Benzene market sees bearish trend
Benzene market sees bearish trend
13
Nov '08
As international oil price inched below US $60, benzene traders, on November 12, became cautious with a wait-and-see attitude.

In the European Benzene Market, prices moved down to close at $400 per mt CIF ARA level for November and December. The market opened with prices at around $395-400 per mt CIF ARA for November against bids at around $375-380/mt CIF ARA for November, and few of the contracts were inked at this price only. Towards the closing of the session, offer prices stood at $360/mt CIF ARA for November.

As far as the US market is concerned, Benzene prices plunged by 7-10cts per gallon on Wednesday, on the back of volatile energy prices. During the opening session, offer prices stood at $1.45-$1.50 per gallon for November and December. As closing time approached, offer prices were assessed at around $1.40-$1.45 per gallon for November and December and at around $1.45-$1.50 per gallon for January.

In the Asian market, offer price from buyers declined to US $400 per ton, FOB Korea; the negotiation level of opening offer for shipment in second half of December stood at $370-$410 per ton, FOB Korea. As for January contract, spot level was pegged to be about $10 per mt higher than December market.

Today, In the Asian market, prices fell to $370-380 per ton FOB Korea with an offer standing at $390 per ton FOB Korea for December shipment.

In the China region, market remained quiet on Wednesday. Prices closed firmly at RMB 2,900-3,000 per mt Eastern China with thin trading talks.

Domestic benzene market consolidated amid turbulence; some local markets see tight supply and increased price. Basic situation in the market slightly improved in recent time; import price continues to hover at low level. With moderate sales demand from downstream factories were temporarily stable.

The implementation prices Sinopec in Northern and Eastern China are unified at 3,000 yuan per ton, by midweek; the price in Southern China rose to 3400 yuan per ton.

In North China, mainstream transaction price in benzene market was quoted at 3400-36000 yuan per ton; 3500-3700 yuan per ton in Eastern China, at 3500-3600 yuan per ton in Southern China.

Limited negotiations and flat transactions were putting pressure on domestic benzene market. However, market analysts expect that benzene price will follow current consolidation for the time being.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silke Brand-Kirsch
Schlegel und Partner

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X