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

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ashok Desai
Bombay Textile Research Association

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

Giorgio Mantovani
Corman S.p.A

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

Judy Frater
Somaiya Kala Vidya

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search