Chinese benzene market appears light & stable

03 Jun '10

2 min read

The price focus on domestic benzene market moved higher on Tuesday and trade volume was fair. Benzene offers from North China Branch of Sinopec declined by 200 Yuan / ton.

The uniform implementation level of Tianjin Petrochemical, Shijiazhuang Refinery and Qilu Petrochemical was 6,000 Yuan / ton, with immediate effect, that of Qingdao refinery was 5,900 Yuan / ton.

Offers from South China brand of Sinopec too declined by 200 Yuan / ton and the uniform implementation level of Guangzhou Petrochemical and Maoming Petrochemical was 6,000 Yuan / ton, with immediate effect.

Central Branch of Sinopec also reduced uniform price of benzene by 200 Yuan / ton for Wuhan Petrochemical, Changling Petrochemical, Zhongyuan Petrochemical and Luoyang Petrochemical to 6,000 Yuan / ton, with immediate effect.

Domestic benzene market conditions were light and stable on Wednesday, market atmosphere was quiet and discussion for overseas goods was as usual.

Market prices in East China ranged between 6,000-6,100 Yuan / ton, in South China they stood at 6,000-6,200 Yuan / ton and in North China it was 6,000-6,100 Yuan / ton. In the Asian market, closing price fell US $15 to $797.5-798.5 / ton (FOB Korea).

Domestic benzene market is light and stable, due to the impact of collapse in oil prices and foreign offers; market sentiment is calm under strong watching atmosphere. The market is likely to see a short-term correction, as it lacks upward momentum.

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