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Benzene prices to consolidate in short term
22
Jul '10
In the Asian markets, benzene rose US $2 from the previous day to close at $776-779 / ton (FOB Korea) on July 21. The Chinese domestic pure benzene market showed strong conditions on Wednesday and business discussion atmosphere improved.

In the Chinese market, benzene prices firmed up. Mainstream discussion price ranged around 6100-6300 Yuan / ton in East China market, in South China it stood at 6050-6150 Yuan / ton and mainstream price in North China marked 6100-6200 Yuan / ton.

Oil prices and overseas offers continue to go higher, prices from Sinopec refineries are stable, downstream styrene market has climbed higher and the domestic pure benzene market in East China has augmented.

This has led to a improvement in market sentiment and it is difficult to find low-cost supply, due to which market participants expect that short-term benzene market is likely to continue consolidation pattern.

Click here to view Chinese prices of various aromatics.

Fibre2fashion News Desk

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