China : Domestic pure benzene market to see moderate rise

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Domestic pure benzene market to see moderate rise

17
Apr '08

Although crude oil prices sky-rocketed on this Wednesday, April 16, Asian pure benzene market outside China remained flat and China's domestic market atmosphere was calm, with usual market negotiations and turnover.

In the Asian region, crude oil price rise continued to support aromatic market in the United States, affected by US market trend. Asian pure benzene market rebounded on Wednesday, FOB Korea closed at US $1088.50-1089.50 per ton, rising $5 per ton. In the Southeast Asian market, prices increased by $3.5 and closed at $1079.75-1080.75 per ton.

Vitol and BASF Intertrade offered at $1085 / mt and $1093 / mt, FOB Korea, respectively, for shipment in June, but no transaction report was received till closing time.

In the domestic market, pure benzene prices were stable, in East China market price stood for 9100-9150 yuan per ton, in South China market price stayed at 9050-9100 yuan per ton, and in the Northern region, price indicated as 9000-9050 yuan per ton.

Factors that influence the market trend: crude oil price is in a high level consolidation, Asian market atmosphere is thin, with dull domestic market sentiments; turnover size is as usual and market demand is limited. Trade people expect that China's domestic market will be modestly up amid steady consolidation in recent time.

Fibre2fashion News Desk - China

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