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Benzene market faces downward pressure
23
Apr '09
Pure benzene market closed slightly higher on Wednesday in Asia. In the late afternoon, near close time, GS Caltex offered to buy benzene for shipment in June at US $583 per ton, but received no response from sellers.

At present, it is reported there will be 80,000 tons of June cargo arriving in Asian benzene market, so the market is facing downward pressure, but Chinese market still has demand for July shipment, inquiries in spot market are fair.

It is learned that a Japanese manufacturer has increased operating rate to meet downstream needs for styrene and currently some suppliers are sending quotations to Taiwan region.

Sumitomo in Japan has enlarged cracking rate to full operating rate by mid-month. Maruzen Petrochemical industry has increased operating rate in order to satisfy the demand for ethylene and currently it is purchasing naphtha in spot market.

Fibre2fashion News Desk - China

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