Benzene prices which began the day on a strong note on Wednesday in Asia went down as the day ended as overnight decline in upstream energy values forced traders on back foot during the day.
Prices of benzene fell in west which affected prices in Asia, a benzene buyer said.
Sellers are quoting March cargoes at $745 per metric ton FOB Korea levels but bids have slid to $730 per metric ton FOB.
Decline in benzene prices is being accorded to global aromatics complex becoming weak and weaker downstream SM prices.
Traders have withdrawn anticipating further decline in rates in the face of energy prices continuing to be under pressure today, because of the US Department of Energy's huge build up in crude and distillate stocks during the week ended February 17.
South Korea benzene inventory levels are very high in local markets as several March spot parcels remain unsold, sources report.
China local benzene rates from producers are around RMB 7300 per metric ton ex-work levels whereas traders are lower with prices at RMB 7100 per metric ton ex-works.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
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