In China, the spot supply of benzene remained tight and downstream manufacturers bought goods in accordance with demand, while traders displayed a stronger intention to buy.
In East China, the offers of pure benzene in domestic markets were in the range of 9,200-9,500 Yuan/ton on September 5.
In Shandong region, market offers for benzene were in the range of 9,200-9,300 Yuan/ton, while the price of hydrogenated benzene was quoted at 9,250 Yuan/ton.
There was limited supply of petroleum benzene in the market, and downstream users mostly bought hydrogenated benzene.
Currently, the Chinese benzene market is operating at high level. Tight supply and prices from refinery are the factors supporting the market at high level.
Hence, benzene prices in the Chinese market are likely to remain at high level in the short-term.
Fibre2fashion News Desk - China