Benzene prices sustains its strength in Asian markets
21 Feb '06
1 min read
Benzene prices in Asia continued to gain in strength due to overnight gains in upstream energy prices in London and over one dollar increase in crude prices as Nigeria reported drop in output.
Closure of US energy markets due to celebration of President's Day, caused naphtha prices to strengthen and create bullish sentiments as buyers were forced to go for purchases before the next price rise.
They were buying at above $765 per metric ton FOB Korea mark for March stocks.
Indications of China National Offshore Oil Corporation and Shell Petrochemicals Company Limited (CSPC) operating Styrene Monomer (SM) unit around 80 percent of its output levels, has also fuelled bullish sentiments as requirement of benzene would rise sharply.
Positive gains shown in product prices of aromatics plants including toluene in the region, have also been instrumental in providing strength to benzene.
SM prices downstream have climbed to further the bullish trend in benzene markets, traders said.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
