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Asian benzene traders seek arbitrage opportunities

29
Dec '11
Activity in Asian benzene market was relatively limited; traders were waiting to see potential business opportunities of Asian-American arbitrage.

Buyer's intention for February cargo increased to $1,045 / ton (FOB Korea), March cargo was offered at $1070/ ton and April cargo was at $1,060 / ton.

Traders said downstream demand was still weak and the market faced uncertainty.

In the Chinese market, Transactions were in the range of 7,900-7,950 Yuan / ton in East China, 7,900-7,950 Yuan / ton in South China and 7,800-7,900 Yuan / ton in North China.

Current oil prices show high level volatility, so benzene market still receives solid support from costs.

Although the pure benzene market recently showed signs of increase, upward space is still limited so, the market is expected to maintain a steady trend in the short term

Fibre2fashion News Desk


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