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Benzene prices slowly move northwards
Jan '09
After months of falling prices of key petrochemicals, the market has slowly, but surely started moving in a northwards direction. Benzene prices which were trading at US $320-330 per ton FOB Korea, has now moved to $350 per ton in the current week for March deliveries.

Though March deliveries were quoted at $330 per ton, still the petrochemical plants were able to sell at $350 per ton, indicating a shift from the previous period where buyers reigned supreme. But at the same time there were buyers who were offering $345 per ton for deliveries to be made in April, but found few suppliers for the same.

In European market also price of Benzene moved up. In European market offered price of Benzene was $320 per ton for the second half of January delivery but many of the deals were confirmed at $290 per ton. Price of Benzene to be delivered in February was successfully sold at $300 per ton.

In US market, Benzene price remain unchanged. Benzene to be delivered in the second half of the January was quoted at $1.05 per gallon and Benzene to be delivered in February sold at $1.00 per gallon. Offered price for the February delivery was $1.03 per gallon. Speculators foresee that price will move down in next few days.

Fibre2fashion News Desk - China

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