Home / Knowledge / News / Textiles / Benzene market on wait & watch mode
Benzene market on wait & watch mode
06
May '10
In recent days, overall demand for pure benzene from downstream styrene, aniline and other downstream sectors in Asia maintained a steady flow, which provided stable support to benzene market.

In the Asian markets, benzene closed at US $994-997 per ton FOB Korea on May 4, flat with the previous trading day. Offers for overseas supply were around US $990-1010 per ton, while the spread between domestic goods and overseas goods was around 150-400 Yuan per ton.

In the Chinese market, benzene prices in East China ranged between 7,700-7,800 Yuan per ton, price in South China touched 7,700-7,800 Yuan per ton and price in North China stood at 7,700-7,800 Yuan per ton.

As some petrochemical producers in Asia are considering using LPG as cracking feedstock, aromatic yield is far lower than crackers using naphtha as raw material; therefore, Asian supply of benzene is expected to reduce in May and June.

Market sentiment is in the doldrums, due to the impact of crude oil. The market is strongly covered with wait and watch sentiment. Transactions are deadlocked. The Chinese benzene market is expected to undergo consolidation in the short term.

Offers for European and U.S benzene went down and arbitrage profits of inter-continental transportation among Asia, Europe and the United State still exist. Arbitrage operation maintains for more than one month, however arbitrage space narrows down recently as of May 4, Asia-Europe benzene price difference was US $100 per ton.

The open arbitrage window continues, but its impact slowed down with the weakening of arbitrage transactions. Supply outside Asian market increases, but overall supply pressure is not large. With gradual improvement in the operation in downstream sector, short-term supply pressure is not expected to be large.

Fibre2fashion News Desk

Must ReadView All

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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