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Downturn in demand impacts global benzene prices

13
Apr '12
The recent downturn in demand has become one of the main factors affecting benzene market.

Asian benzene price fell US $6 to US $1171 dollars / ton (FOB South Korea) on April 12. Two deals were reached at US $1170 / ton and $ 1,172 / ton (FOB Korea), respectively.

European benzene price declined by $2.5 to $1172 / ton (CIF ARA), sales and purchase intention was in the range of US $1165-1175/ ton. However, traders were reluctant to lower their offers.

US benzene price edged up 1 cent. April cargo was traded at 409 cents / gal (FOB USG), discussion was in the range of 405-412 cents / gallon.

In China's domestic market, benzene prices in East China was in the range of 8,500-8,550 Yuan / ton, in South China, it was in the range of 8,400-8,600 Yuan/ ton and in North China, it stood around 8,500-8,500Yuan / ton.

Recent downturn in demand has become one of the main factors affecting benzene market. The rebound in oil prices has also put a great deal of pressure on benzene market.

Short-term weak consolidation in various markets has created increasing difficulty for benzene market to improve. So, negotiation atmosphere in benzene market is hard to turn better in the short term.

Fibre2fashion News Desk - China


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