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Asian & Chinese benzene trends weaken
10
Mar '11
Because of decline in international crude oil prices as well as overseas buying, China's domestic and Asian benzene markets showed downward trends on Wednesday.

In domestic market, mainstream prices in North China were 8300-8400 Yuan / ton while in East China markets, the price range was 8400-8500 Yuan / ton. In South China markets, the price range was 8400-8500 Yuan / ton.

In Asian markets, Asian benzene closed at US $1154-1157 / ton (FOB Korea) on March 8, decline of US $31 from the previous trading day closing.

The main reason behind the downward trends in China domestic market on Wednesday is the impact of a decline in international crude oil prices. Besides, few overseas offers too contributed to the fall.

Because of these reasons, downstream sector showed a cautious approach in procurement by adopting wait and watch policy. Because of this attitude, trade volume was very low and it affected prices. Though market conditions are a little unfavorable, traders expect short-term market conditions to change.

Fibre2fashion News Desk


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