Asian & Chinese benzene prices up

July 21, 2011 - Asia

In the Asian market, benzene price increased by US $1 from the previous trading day, to close at US $1160-1163 / ton (FOB Korea) on July 20.

The Chinese domestic market, benzene rose on Wednesday, discussion atmosphere appeared deserted.

Market price in East China ranged between 8200-8300 Yuan / ton, market price in South China stood at 7900-7900 Yuan / ton and mainstream offers in North China were 8000-8100 Yuan / ton.

Market price of domestic benzene is rising being driven by higher price of international crude oil and overseas offers and petrochemical refineries face less stock pressure.

Some cargo holders are reluctant to sell goods. Market participants expect that short-term domestic market of benzene is likely to extend the increasing trend amid consolidation.