Home / Knowledge / News / Textiles / Benzene prices slip further
Benzene prices slip further
25
Dec '08
With the approaching Christmas holidays, Asian Benzene markets declined on Wednesday, FOB Korea closed at US $299.75-$300.75 per ton; South-East Asia closed at $276.75-$277.75 per ton, both down by $10 per ton. Offer price for February shipment stood at $315 per ton; for March shipment slightly increased $10 per ton.

One of the traders offered $285 per ton, FOB Korea, for 500 tons to be shipped in January.

According to experts, weak demand from Benzene related industries would continue to constrain the increase of production capacity in the first quarter of 2009. Japanese Oil Company maintains its operation rate at 70 percent due to weak demand in Asia. Benzene production capacity of aromatics plant of South Korea's petrochemical industry at Onsan is 110,000 tons per year. Last week Thailand PTTAR closed its number one aromatics combo plant, its benzene production capacity is 363,000 tons per year.

In addition, aromatics plant of Honam Petrochemical Industry in South Korea has increases its operation rate by 20 percent to 90 percent, its benzene production capacity is 150,000 tons per year. Singapore petrochemical company also plans to raise its operation rate of its two aromatics devices by 8-10 percent, number 1 device produces 105,000 tons of Benzene per year, number 2 device produces 2 165,000 tons per year.

In the China benzene Market, prices sustained at RMB 2,700-2,800 per mt ex-tank Eastern China on Tuesday. Most of players have acquired a wait-and-see attitude.

In Europe, on December 23, benzene market prices slipped down as energy prices retreated back down to below $40 per bbl level following the opening of US market.

Offers were quoted at around $285-$290 per mt CIF ARA for January shipment. December prices were quoted at around $270-$275 per mt CIF ARA against bids at around $250-$260 per mt CIF ARA.

By the day end, offers were assessed at around $260-$270 per mt CIF ARA for December and at around $265-$275 per mt CIF ARA for January.

In the US region, benzene market remained quiet compared to previous session on the back of falling crude prices. During morning trading session, bids stood at around $0.85 per gallon for December; $0.93 per gallon for January and a bit higher at around $1.03-1.04 per gallon for February.

However, market activities remained subdued for the rest of the day due to less participation from traders. By the day end, closing offer prices stood at around $0.85-$0.92 per gallon for December; $0.93-$0.98 per gallon for January and at around $1.04-$1.10 per gallon for February.

For world market prices click here

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

Indian GDP to grow at 7.5% this fiscal: Arun Jaitley

The GDP of India will grow at the rate of 7.5 per cent in 2017-18 as...

Textiles | On 24th Apr 2017

US’ textile manufacturers applaud Buy American order

US' National Council of Textile Organisations has favoured President...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Wendell Rodricks
Wendell Rodricks

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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