Because of fall in international oil prices, China's domestic market of pure benzene witnessed downward trend with very low volumes. On the other hand, Asian benzene prices showed some improvement.
Domestic markets benzene market prices remained flat at 8250-8300 Yuan / ton in East China, while they declined a little to 8400-8500 Yuan / ton in South China. In North China, mainstream market prices were 8200-8300 Yuan / ton. .
In Asian market, benzene price witnessed a net gain of US $30 from the previous day, closing at US $1210-1213/ ton (FOB Korea).
Decline in international oil prices has played a major role in keeping prices flat. Though downstream sector digested these shocks, overall market sentiment affected badly.
Though market scenario at present is not favorable, short-term benzene market conditions are expected to strengthen.
Factors affecting the market and market trends: while outside market price fell, domestic benzene market conditions slightly softened due to the impact of price collapse in international oil, downstream sector mainly digested stocks temporarily, overall market sentiment was moderate.
Market participants expect that short-term market conditions of domestic benzene may maintain consolidation trend.
Fibre2fashion News Desk - India
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