In the Asian market, benzene price trends increased by a marginal US $1 from the previous days to close at $838-841/ ton (FOB Korea) on September 9. However, the Chinese domestic benzene market was stable on Thursday, negotiation atmosphere looked plain.
Yesterday, offers from Sinopec declined by 250 Yuan per ton and the unified implementation price was 6,550 Yuan per ton by all its subsidiaries. China National Petroleum cut its benzene price by 100 Yuan per ton and the implementation level was 6370 Yuan / ton.
In the Chinese market, benzene price in East China ranged in between 6400-6500 Yuan / ton, in South China it stood at 6450-6550 Yuan / ton and mainstream price in North China, was quoted in the range of 6300-6500 Yuan / ton.
The Chinese domestic benzene market was light and stable, due to the impact of oil price drop, consolidation of overseas offers and price cut by refineries, which made downstream sector cautious and market talks were plain.
Market participants expect that short-term market conditions will still be based on weak correction.
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