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Benzene trends register worldwide gains
14
Oct '10
Asian benzene markets rose on Wednesday, discussion level for December supply was around US $935-945 / ton.

China's domestic benzene market appeared firm on Wednesday. Offers to external users from Northeast branch of China National Petroleum increased by 300 Yuan / ton to 6,950 Yuan/ ton. Ex-factory price from Lanzhou Petrochemical increased by 300 Yuan to 6300 Yuan / ton.

Benzene price in East China stood at 7,200 Yuan / ton, price in South China was 6800-6800 Yuan / ton and in North China it was quoted at 6800-6800 Yuan / ton.

European benzene prices too rose on Wednesday, FOB Rotterdam closed at $964-965 / ton and CIF ARA closed at $953.75-954.75/ ton, $12.5 / ton, higher than the previous day. Rising price of crude oil futures, boosted benzene market in northwest European.

Offers for October supply ranged between $940.5-950.5 / ton CIF ARA and offers for November supply stood between $950.5-960.5/ ton CIF ARA.

It was reported that one single deal was reached at US $945 / ton, for shipment in October. Trade extension fees for October and November rose to $13 / ton from $10 / ton.

In the US, October and November benzene rose 4.6 cents / gallon, to close at 329-329.1 cents / gallon FOB U.S. Gulf and 328.5-328.6 cents / gallon FOB U.S. Gulf respectively, on Wednesday.

Mainstream talks in early morning trade were around 325-329 cents / gallon FOB U.S. Gulf, but after November supply traded at 328 cents / gallon, mainstream discussion increased to 327-330 cents / gallon.

In industrial news, it has been learnt that India's Haldia Petrochemicals will restart its benzene plant which has a capacity of 130,000 tons / year, which shutdown for maintenance on October 2.

In China, the aromatics plant of Fu Jia Dahua stopped production due to some reasons on Wednesday and this shutdown will remain in force for around 10 days.

South Korea's S-oil will overhaul its TDP unit in the third quarter, the maintenance period will be one month.

Fibre2fashion News Desk

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