Home / Knowledge / News / Textiles / Benzene market experience a sharp down trend
Benzene market experience a sharp down trend
10
Oct '08
Asian Benzene market has fallen sharply this week and the existing price has touched the lowest mark in the past two years. FOB Korea closed at US $869.00-$870.00 per ton on Wednesday, South-East Asia closed at $850.50-$851.50 per ton, and both slumped by $50 per ton.

Excess supply, weak demand and global financial crisis has dampened the market sentiment. Asian market is finding it difficult to over come the bearish atmosphere, even the slight recovery in crude oil on Tuesday failed to trigger any prominent move in Benzene market.

Asian market offered December shipment at $920 per mt and offer price for January delivery stood at $870 per mt.

Poor fundamentals of Asian Benzene market have forced manufacturers in Asian region to cut prices and production operation further. China's petrochemical market dropped by 400 yuan per ton to reach 7800 yuan per ton. Market sources say that Benzene producers in Japan and South Korea plan to reduce production operation further due to weak profits.

Even in the US market, November and December contracts show that Benzene futures fell 15 cents and 10 cents on Tuesday. European Benzene closed down $10 per ton, to below $1000 per mt CIF ARA, due to weak demand of styrene, phenol and acetone from lower reaches.

For World market prices click here

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Urmil Arya

Sushila International, a well established textile organisation established ...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mr Ambrose Chan
DSG International (Thailand) PLC

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search