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Benzene prices continue downward trend

20
Nov '08
Although few of the raw materials for the textiles came out of the shadow of global recession, benzene market prices failed to move upward on the back of lower demand and plunging crude prices.

Asian benzene market prices slipped by $17.5 per mt on Wednesday. The opening offers stood at $350 per mt for January contracts. In the latter part of the day, prices were quoted at $320-330 per mt for shipments in the second half of December and at $330-340 per mt for January.

Today, Asian benzene prices fell below US $300 per ton. A contract for January shipment was inked at around $290 per ton FOB Korea.

Chinese benzene prices remained stable at RMB2,900-3,000 per mt ex-factory. However, market sentiment improved a bit expecting local buying interest would surge.

In the European region, benzene market prices continued its down ward trend, with selling prices quoted at around $280-285 per mt CIF ARA for November and at around $300/mt CIF ARA for December in the opening session. There after market closed with prices pegged at around $240-$270 per mt CIF ARA for November; $270-$280 per mt CIF ARA for December and at around $290-$300 per mt CIF ARA for January.

In the US market, benzene market prices dropped by about 7-8cts per gallon to close at below $1.20 per gallon level on Wednesday. Following a dull trading session through out the day, market closed with prices stood at around $1.12-$1.17 per gallon for November and December and at around $1.20-$1.25per gallon for January shipments.

World market express of benzene prices click here

Fibre2fashion News Desk - China


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