Home / Knowledge / News / Textiles / Asian Benzene markets may turn bearish
Asian Benzene markets may turn bearish
24
Sep '09
Asian benzene market rose marginally by US $1.5 per ton on Wednesday. FOB South Korea Benzene closed at $746.25-747.25 per ton while FOB Southeast Asia Benzene closed at $744.25-745.25 per ton.

Market players showed heavy bearish sentiment towards market conditions in the fourth quarter as benzene supply has increased in some areas. In the morning, offers for November shipment stood at $765 per ton FOB Korea, but fell to US $755 per ton in the afternoon.

Offers for shipment in the second half of October touched $720 per ton, offers for shipment in November stayed at US $730 per ton and offers for shipment in December were $10 per ton higher than those prevailing for November.

However, continuous drop in prices of benzene, has led to a sharp decline in quotes of phenol. Spot prices of phenol have fallen to $970 per ton CFR China within one month.

Under normal circumstances, phenol prices should be higher by $300 per ton, than its feedstock; Benzene. Observers note that, the market could carry out arbitrage by shipping Benzene from Europe to the US.

But recent increase in export volumes from China has created a bearish sentiment in the market. In China, August benzene exports reached 65,000 tons and imports registered 17,000 tons. The majority of downstream plants use domestic benzene supply, as domestic supply price is lower than international price.

Fibre2fashion News Desk - China

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search