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Asian benzene price touches 28-month high
Jan '11
In the Asian markets, benzene spot prices created a new high in 28 months on early Wednesday, reaching US $1,120-1,130/ ton (FOB Korea), up $25 from Tuesday, as being boosted by price rise in the United States and EU markets overnight.

US benzene prices rose to US $4.19-4.21 / gallon or US $1,252-1,258/ ton FOB on Tuesday, while prices increased to US $1,230-1,240/ ton CIF ARA (Amsterdam, Rotterdam, and Antwerp) in the EU, mainly due to tight supply.

According to an Asian exporter, as the arbitrage window to the United States reopens, there will be more benzene exported to the United States this month, currently benzene price in U.S. market is US $128-132 / ton higher than the price in Asia.

In the Chinese domestic market, pure benzene market prices were stable, discussing atmosphere was fair. Market price in East China was 7500-7600 Yuan / ton, market price in South China performed 7500-7600 Yuan / ton and mainstream price in North China was 7500-7600 Yuan / ton.

While overseas prices fell, Chinese domestic benzene market prices were stable, due to the influence of high level consolidation of crude oil price, downstream market was covered with thicker waiting atmosphere, and market trade was flat.

With tight supply in domestic market in recent time, market participants expect that short-term market conditions of Chinese domestic benzene may hold a firm trend.

Fibre2fashion News Desk

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