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Benzene trends may consolidate in short term

09
Feb '12
Trading pace in the pure benzene market has slowed down and buyers show less interest in high-priced speculation.

Procurement in accordance with demand from downstream sector has weakened, but sellers held their ground, resulting in stable operation of the market.

Transaction level of Asian April benzene cargoes was US $1,185 / ton (FOB Korea), low-end trading level was on $1180 / ton (FOB Korea). Transaction level of benzene May cargo was $1180 / ton.

In current news, Singapore plans to enhance its benzene import volume from Korea in the first quarter.

In the Chinese domestic market, market transaction in East China was in the range of 8,500-8,550 Yuan / ton, in South China it was between 8,400-8,600 Yuan / ton and in North China it stood in between 8,450-8,550 Yuan / ton.

Benzene market is expected to consolidate in a small range in the short term.

In factory news, the implementation price of Sinopec branch in Central China which includes Changling Refinery, Wuhan Petrochemical and Luoyang Petrochemical is 8,650 Yuan / ton.

Fibre2fashion News Desk - China


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