Home / Knowledge / News / Textiles / Taking cues from crude oil, benzene prices maintain momentum
Taking cues from crude oil, benzene prices maintain momentum
16
Jul '09
With the rebound in international crude oil, pure benzene market grew by US $18 per ton in Asia on Wednesday, FOB Korea closed at US $813.5-814.5 per ton, and FOB Southeast Asia closed at US $806.5-807.5 per ton.

Market focus shifted to September cargo, in the morning. Offers for August and September shipment were quoted at $791 and $790 per ton, FOB Korea, though later in the day, offers for September shipment moved up to $800 per ton.

Three deals were made in the afternoon, one transaction traded between BIT and Noble at $810 per ton for shipment in September. The other two were between Vitol and GS Caltex for shipment in August and September at $815 and $809 per ton respectively.

Since the outburst of the global economic crisis last year, South Korea's exports to the United States have fallen sharply, total exports in the first half of 2009 reached 110,563 tons, down by a staggering 60 percent, when compared with same period of last year.

On the contrary, China's imports from South Korea more than doubled to reach 247,028 tons in the first half of 2009, in comparison to imports, which registered at 108,645 tons in the same period of last year.

At present, production profits of pure benzene have improved. The spread between pure benzene and toluene was $66.50 per ton and between pure benzene and naphtha was $ 273.50 per ton, while the spread was $273 per ton on September 24 last year.

Many market participants are active in short-term operation, while many end users did not want to take short-term risks, thus putting pressure and in the process, reducing the off take of pure benzene.

Fibre2fashion News Desk - China

Must ReadView All

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

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

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
January 2017

January 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