This Tuesday, on June 24, Asian pure benzene market price continued to rise, touching US $9.5 per ton, FOB Korea closed in the range of $1316.75 - $1317.75 per ton; in the Southeast Asia region, prices stayed in between, $1304.00-$1305.00 per ton; the rise in crude oil prices also paved the way for improved pure benzene market in Asia.
Although pure benzene has reached record highs, profits margins of producers are still meager. It is learnt that two aromatics plants in Singapore, which started production last week has further slashed 10 percent capacity and now the total cut down has reached to 70 percent.
Nippon Oil in Japan registers another case of negative profit for pure benzene production. Its July contract price in Asia is fixed at $1350 per ton, CFR, an increase of $40 per metric ton over June.
In Chinese market, taking into account of current market fundamentals, Sinopec sources said pure benzene price would not be adjusted before the end of this month.
The aromatics device from Qingdao refinery indicated 50-60 percent of its actual operation rate on Tuesday; the plant's yearly production capacity for pure benzene is nearly 50,000 tons.
Talking about the market scenario, GS Caltex-SK Energy strikes a deal of around 3,000 tons of pure benzene at the price of $1320 per ton, FOB Korea, for early July shipment.
On the other hand, domestic enterprises also quoted their prices on June 26. The implementation price level of pure benzene for Zhenhai Refinery, Shanghai Petrochemical, Yangzi Petrochemical, Jiujiang Petrochemical and Nanjing refinery from East China branch of Sinopec is steady at 10,700 yuan per ton.
The implementation price offered by Yanshan Petrochemical, Luoyang Petrochemical, Shijiazhuang Refinery, Qilu Petrochemical from North China Branch of Sinopec stood at 10,700 yuan per ton.
The ex-factory price of pure benzene from Qi Wang Da in Shandong province is offered at 10,700 yuan per ton. The manufacturer has a daily production capacity of 8 tons per hour; it currently holds an inventory of 530 tons.
Fibre2fashion News Desk - China
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