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Chinese benzene trends light but stable
26
May '11
Chinese domestic market conditions of benzene were light but stable on Wednesday, negotiation atmosphere was quiet.

Chinese domestic benzene price in eastern China ranged between 7,850-7,900 Yuan / ton, market price in South China stood around 8,000-8,050 Yuan / ton and mainstream price in North China was marked around 7,950-8,000 Yuan / ton.

In the Asian market, benzene rose US $5 from the previous trading day to close at US $1120-1123 / ton (FOB Korea).

Although prices of international crude oil and overseas offers rose, Chinese benzene market held a light but steady trend, due to price reduction of domestic petrochemical refineries, downstream demand was mainly sluggish, and market trade volume was limited.

Market participants expect that domestic market will be based on consolidation in the short term, but do not rule out the possibility of a decline.

In plant news, Central Sales branch, East China branch and South China branch of Sinopec reduced its sale price of benzene by 200 Yuan to 8,000 Yuan / ton. While North China branch, reduced it by 160 Yuan to 8,000 Yuan / ton.

Dalian Fu Jia Dahua too reduced its benzene offer by 200 Yuan to 8,100 Yuan / ton. Its aromatics plant has started normal operation and has no maintenance plan in the immediate future.

Fibre2fashion News Desk - China

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