Pure benzene market to maintain stability
March 27, 2008 - China
Crude oil prices headed into correction, on Wednesday, March 26, and Asian markets outside China performed fairly. Pure benzene turnover in domestic market remained stable; at the same time trade volume and negotiations were average.
Scenario in the Asia Markets: here pure benzene further climbed by US $6.5 on Wednesday, FOB Korea closed at $1081.50-1082.50 per ton, supported by continuous rise of gasoline futures and US pure benzene. Pure benzene markets in Asia are facing great pressure; April inventories are higher.
In the domestic front: pure benzene prices kept stability; East China market price was at 9100-9150 yuan per ton, South China price was at 9050-9100 yuan per ton and in the Northern region benzene could be purchased at 9100-9150 yuan per ton.
Factors that influence the market trend: crude oil price sinks into correction, sentiment in domestic region is flat, market demands are moderate, and traders expect that pure benzene market will be steady in coming time.