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Weak consolidation to continue in Chinese benzene market
18
Nov '10
In the Asian market, benzene fell US $7 from the previous trading day to close at $916-919 / ton (FOB Korea). China's domestic pure benzene market was stable on Wednesday; however, discussion atmosphere looked dull.

Domestic market conditions were stable. Market price in East China ranged between 7100-7200 Yuan / ton; price in South China marked 7100-7200 Yuan / ton, while in North China it stood at 7100-7200 Yuan / ton.

The Chinese domestic benzene market has softened, due to the impact of lower international crude oil prices and reduced offers for overseas supply, as well as weakening styrene in downstream market.

Downstream demand was low, overall market sentiment appeared deserted. It is reported that some refineries have planned to cut price, tomorrow. Market participants expect that domestic benzene market is likely to continue weak consolidation in the short term.

Fibre2fashion News Desk

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