Home / Knowledge / News / Textiles / Asian benzene market inches upward
Asian benzene market inches upward
27
Nov '08
As manufacturers continue their speculative buying in spot market, Asian benzene market rose by US $2.5 per ton on Wednesday; South Korea closed at $332.75-$333.75 per ton; South-East Asia at $309.25-$310.25 per ton, but weak fundamentals of crude oil restricted the rising pace in benzene market.

At present, unreasonable price gap between naphtha and benzene makes it more sensible to buy benzene in spot market rather than to produce it. Wednesday morning session was moderate, but it became active during the evening session.

GS Caltex opened its offer for shipment in the second half of December at $305 per mt FOB, and further raised the price to $323 per mt near close time.

In addition, BIT (BASF Intertrade) offers stood at $310 per mt CFR Singapore for December shipment.

Outside the screen, Koch concluded transaction with SK Energy for benzene shipment either in the first or the second half of December at $330 per mt FOB.

On November 27, the ex-factory price of benzene from Lanzhou Petrochemical is implemented at 2850 yuan per ton, but contract price is slightly lower, parts of its productions are sold in North China and East China. Sales are better; inventory is back to normal level. The company consumes most of its production itself. The manufacturer has an annual capacity of producing 160,000 tons of benzene, 130,000 tons of toluene, and 110,000 tons of xylene.

The ex-factory price of benzene from Sinopec Shanghai Branch is implemented at 3,000 yuan per ton, including Zhenhai Refining and Chemical, Jinling Petrochemical, and Shanghai Petrochemical.

The ex-factory price of benzene from Sinopec Guangzhou sales branch is implemented at 3,000 yuan per ton, including Changling Refinery, Wuhan Petrochemical, Maoming Petrochemical.

For World market prices click here

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Silke Brand-Kirsch
Schlegel und Partner

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Wendell Rodricks
Wendell Rodricks

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

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
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