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US markets boost Asian benzene prices

12
Jan '12
Continued rise of US market boosted Asian benzene market. Coupled with support from strong crude oil, benzene price in Asia rose US $16.

March shipment was traded at $1153 / ton FOB Korea, April cargo was traded at $1,160 / ton FOB Korea in the morning, followed by two transactions of March shipments traded at US $1,155 / ton.

In the Chinese domestic market, benzene was priced between 8,100-8,150 Yuan / ton in East China, 8,100-8,200 Yuan / ton in South China and 8,050-8,100 Yuan / ton in North China on January 11.

Strong trend of crude oil and external markets continue to support benzene market mentality, despite lack of demand from downstream sector.

Short-term market speculation is still expected to remain strong, but actual trade expansion is limited, making overall turnover insufficient to support the market.

In company news, Northwest Sales branch of China National Petroleum announced its ex-factory price at 7,500-7,650 Yuan / ton for Lanzhou Petrochemical and 7,150-7,250 Yuan / ton for Urumqi Petrochemical.

Sales branch of Sinopec in North China has listed its benzene price at 8,250 Yuan / ton.

Fibre2fashion News Desk


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