On Wednesday, August 13, Asian benzene prices fell to the lowest level since the end of April; FOB Korea stood with in the range of US $1132.00 -1133.00 per ton, Southeast Asia at $1118.50 -1119.50 per ton.
Experts observe that low demand in the market will weaken the prices of crude oil in the United States and Europe. On August 13, sharp decline was noted in the region. European benzene fell below $1200 per ton. Shrinking market confidence continued to bring sellers into the market, spot market dropped by $48.5 per ton.
US August shipments closed down 3 cents to 417 cents per gallon FOB USG.
According to market experts, Asian market price is expected to be determined by arbitrage against the United States.
In addition, as October is the major transaction month, so the trade volume of month is expected to past beyond any previous month. Since starting of the on-going month, till August13 Asian benzene prices dropped by $142.50 per ton.
For World market prices click here
Fibre2fashion News Desk - China
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