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Weak price trend haunts Benzene market
26
Feb '09
The Asian pure benzene market continued to go fall on February 25 and quotes were flying at US $350-378 per ton, FOB Korea for April shipments, but did not find any takers.

There is still a limitation in supplies from China's domestic refineries and it is supplied to only contract buyers. Prices quoted by Sinopec Beijing and Wuhan branch stood at 3700 Yuan per ton while that of Canton branch was 3800 Yuan per ton and that of Shanghai branch 3600 Yuan per ton.

In the spot market, the North and South markets continued to be different. East China was impacted greater by foreign offers with purchasing power from lower reaches seemingly weak leading to poor market performance.

In the East China market, Benzene prices stood at 3350-3400 Yuan per ton. Supply was tight in North China and market strong due to which prices were higher at 3600-3800 Yuan per ton. In South China market price stabilized at 3600-3700 Yuan per ton.

Fibre2fashion News Desk - China

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