Home / Knowledge / News / Textiles / Benzene market attitude looks bearish

Benzene market attitude looks bearish

18
Dec '08
Even though few of the raw materials for the textile industry 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 was flat on Wednesday, FOB Korea closed at US $322.00-$323.00 per ton, South-East Asia closed down by $1 per ton to reach to US $299.00-300.00 per ton as bearish sentiment continued to plague the market. Traders are expecting the prices to drop further in late January and thus buyers in Southeast Asia and Northeast Asia left market together in wait-and-see attitude.

In contract market, due to uncertainty about market future, buyers in Southeast Asia concluded deals as lowest as possible. Usually, benzene buyers conclude 70-80 percent contract purchase and 20-30 percent remaining demand are covered by cash purchases, but in 2009, the average amount of contract purchase may drop to 50-60 percent.

Huge tons of benzene was sold to Asian market from the United States since December, while exports from the United States were 56,340 tons and 57,453 tons in September and October. In general, Asia is a major source for US benzene imports with about 4-5 million tons every month in form of cash purchase or contract purchase.

Today Prices in the Asian region slipped in the afternoon to $310-$320 per ton FOB Korea with an offer price quoted at $320 per ton FOB Korea for January shipment. The offer range for February stood at $315-$340 per ton FOB Korea.

In the European region, spot benzene levels slipped by $5-$15 per ton range from previous levels to $310-$330 per ton CIF ARA (Amsterdam, Rotterdam, Antwerp) for December. It is expected that prices for January would be quoted higher at $345-$355 per ton CIF ARA.

In the US benzene spot market speculative prices for December narrowed at 103-110 cents/gallon, compared to 100-113 cents per gallon previous day.

For World market prices click here

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 4th Dec 2020

India to position itself as global MMF, tech textiles hub

India is working on major interventions to position itself as a...

Pic: Shutterstock

Textiles | On 4th Dec 2020

US bans cotton imports from Chinese producer XPCC

The US Customs and Border Protection (CBP) agency recently banned...

Pic: Shutterstock

Apparel/Garments | On 4th Dec 2020

PVH Corp Q3 FY20: sales $2.11 bn; net income $70 mn

PVH Corp, a US-based global apparel companies, has reported 18 per...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Consumer sentiment will be conservative after lockdown

Top executives, Textile industry

Top executives
Textile industry

RoSCTL is need of the hour

Sunil Kumar Sharma, Loknayak JPNSSSG Ltd

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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


December 2020

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


Advanced Search