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Marginal improvement in Chinese benzene trends

28
Jun '12
The Chinese benzene market has slightly improved with prices moving slightly higher. Market negotiation is becoming increasingly active, due to the influence of gradual recovery of offers for foreign goods and slight improvement of downstream buying.

Benzene market in East China was flat on June 27. Market offers were in the range of 7,500-7,550 Yuan / ton, downstream manufacturers bid around 7,450 Yuan / ton and actual negotiation was in the range of 7,450-7,480 Yuan / ton.

Benzene market in Shandong was light on June 27. Cargo holders offered in the range of 7,450-7,500 Yuan / ton, downstream manufacturers bid around 7,400 Yuan / ton, actual negotiation was in the range of 7,400-7,450 Yuan / ton.

The Central China Sinopec Sales Branch has plans to cut its benzene listing price by 200 Yuan / ton.

When implemented, the listing price of Wuhan Petrochemical, Changling Refinery and Luoyang Petrochemical will be 7,350 Yuan / ton and that of Jingmen Petrochemical will be 7,250 Yuan / ton.

Current negotiations focus on small orders and at the same time, overall inventory is limited, which pushes prices higher. Benzene market is expected to have limited space for decline in the short term. 

Fibre2fashion News Desk - China


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