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Chinese benzene market stabilizes temporarily

31
May '12
The Chinese benzene market has stabilized temporarily, so market price is relatively stable. Downstream styrene market has been warmer and demand from aniline and cyclohexanone is still weak.

The benzene market in East China slightly increased on May 30. Sporadic offers were in the range of 8,200-8,250 Yuan / ton, bids from downstream manufacturers were around 8,150 Yuan / ton, actual negotiation was in the range of 8,150-8,200 Yuan / ton.

The benzene market in Shandong Province appeared flat on May 30. Offer were at about 8,150 Yuan / ton, downstream manufacturers bid at about 8,050 Yuan / ton and actual negotiation was in the range of 8,100-8,120 Yuan / ton.

US PX market was light and actual trading appeared scarce. Offers in US market fell US $15 / ton on May 30, to $1395-1405/ ton (FOB US Gulf).

Asian paraxylene (PX) market fell US $13 / ton on May 30, to $1403.5-1404.5 / ton (CFR China Taiwan) and $1378.5-1379.5 / ton (FOB Korea).

Benzene market is expected to maintain weak consolidation in recent time, based on downstream demand.

Fibre2fashion News Desk - China


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