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First-half of April tough for benzene & CPL trends

21
Apr '12
In the just concluded fortnight ending April 15, selling offers for benzene and caprolactam (CPL) declined.

In the first half of the fortnight, selling offers for Asian benzene declined due to weaker feedstock prices.

In US market, benzene market was moderate to firm, contrary to trends in the rest of the world market.

In the second week of the fortnight, benzene selling offers opened with firm sentiment but declined slowly by the end of the week.

Benzene buyers firmly adopted wait and watch stance as energy market softened due to weak regional demand.

The CPL market declined as plunge in profit margins of downstream products, but brakes on inquiries for new CPL goods.

By the end of the first week of the fortnight, buying sentiment remained dull as market mood was weak. Due to sluggish trading, selling offers for CPL fell further.

In the second half of the fortnight, CPL prices continued to move down as market mood remained weak with sluggish trading.

Buyers were hard to find in market while traders were missing from active market trading.

Fibre2fashion News Desk - India


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