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Asian benzene markets surge on Dec 20

22
Dec '11
In the international benzene market, Asian benzene rose US $14.5 on December 20. Buyer's intention for shipment in late January increased from $1,045 to $1,047 / ton (FOB Korea).

Negotiation for February shipment was in the range of $1060-1062 / ton and higher level offers were $1,070 / ton.

Negotiation for March shipment was in the range of $1070-1073/ ton. Buyer's intention for April and May shipment was $1,071 / ton and $1,070 / ton, respectively.

In the Chinese domestic market, benzene prices in East China were in the range of 7,900-7,950 Yuan / ton, 7,800-7,900 Yuan / ton in South China and 7,650-7,750 Yuan / ton in North China.

Benzene price is currently influenced by limited supply and sellers are reluctant to sell goods at low cost. Buyers looking for huge volumes are not finding suppliers. Recent market conditions are expected to see a rising trend.

In company news, the Northeast sales branch of China National Petroleum has officially increased its pure benzene price by 150 Yuan / ton to 7,750 Yuan / ton, which includes Daqing Petrochemicals and Jilin Petrochemicals.

Fibre2fashion News Desk


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