Asian benzene falls, Chinese prices steady

09 Jun '11

1 min read

Asian benzene fell US $15 to close at US $1086-1089 / ton (FOB Korea). Market conditions of domestic benzene in China were light amid steadiness on Wednesday and trading atmosphere was quiet.

In the Chinese domestic market, price in East China ranged between 7,700-7,800 Yuan / ton, market price in South China stood at 7,900-8,000 Yuan / ton and in North China, benzene was quoted at 7,800-7,850 Yuan / ton.

East China branch of Sinopec cut its benzene offer by 200 Yuan to 7,800 Yuan / ton. Central Sales Branch of Sinopec reduced its listing price by 300 Yuan to 7,700 Yuan / ton. North China Sales Branch of Sinopec decreased its price by 290 Yuan to 7,710 Yuan / ton, all with immediate effect.

Dalian Dahua Fu Jia too reduced its offer by 200 Yuan / ton and its plant is operating normally and has no overhaul program in recent future.

Chinese price of benzene was light amid steadiness, due to the influence of decline in international oil prices. Downstream demand remained flat and no sign of improvement was seen in turnover.

Market participants expect that short-term market will mainly remain in weak consolidation.

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