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Benzene prices up marginally, spread with naphtha narrows
21 May '09
1 min read
Asian benzene market sentiment balanced with a marginal rise on Wednesday. FOB Korea closed at US $636.5-637.5 per ton, up $5.25 per ton while FOB Southeast Asia closed at $629.5-630.5 per ton, up $7.25 per ton.
Early in the morning, Asian market offered at $635-670 per ton FOB Korea, but prices fell towards afternoon and one contract for July shipment was re-traded at US $645 per ton FOB Korea.
One Japanese manufacturer said that since Japan enhanced operating rate of styrene plants in April, pure benzene imports from South Korea have increased to 30,000 tons in May and the pure benzene manufacturer thinks styrene market may be sluggish in June.
At the same time, a number of pure benzene manufacturers in Japan and South Korea have enhanced their capacities to 80-100 percent, however, other manufacturers think the spread between naphtha and pure benzene is narrowing.
It was $132.75 per ton on Tuesday, down from $176.25 per ton of the previous week. The spread between naphtha and the pure benzene should be maintained at US $150-200 per ton, to balance profits.
Early in the morning, Asian market offered at $635-670 per ton FOB Korea, but prices fell towards afternoon and one contract for July shipment was re-traded at US $645 per ton FOB Korea.
One Japanese manufacturer said that since Japan enhanced operating rate of styrene plants in April, pure benzene imports from South Korea have increased to 30,000 tons in May and the pure benzene manufacturer thinks styrene market may be sluggish in June.
At the same time, a number of pure benzene manufacturers in Japan and South Korea have enhanced their capacities to 80-100 percent, however, other manufacturers think the spread between naphtha and pure benzene is narrowing.
It was $132.75 per ton on Tuesday, down from $176.25 per ton of the previous week. The spread between naphtha and the pure benzene should be maintained at US $150-200 per ton, to balance profits.
Fibre2fashion News Desk - China
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