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Hazy upstream markets affect Benzene prices
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Textiles
Hazy upstream markets affect Benzene prices
28 Feb '06
1 min read
Low demand for benzene resulted in the drop in prices in Asia.
Buyer bids remained low considering the ambiguity in the global upstream markets.
Buyer bids were further pulled down by the sudden decline in crude oil prices and the Western aromatic prices.
Sources believe that the situation in market is beyond forecast as it is subject to external factors like threat of terrorist attacks.
Hence, benzene prices are pegged at around US $700 per metric ton FOB Korea mark.
There is buyer resistance, even at these prices, but traders are trying to persuade deals on the basis of weak derivative SM markets across Asia.
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