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Benzene markets dip on Wednesday

02
Jul '09
Asian Benzene prices declined marginally following the trends set by crude oil market on Wednesday. FOB Korea closed at US $819.50-820.50 per ton, down $8.75 per ton from the previous day.

FOB Southeast Asia closed at $811.50-812.50 per ton, down $7.75 from the previous day. Early morning offers were at $810 per ton, but counter offers were at $835, and the spread narrowed in the afternoon.

In the trading area, Chemstone offered August cargo at $815, but did not receive any corresponding offers. Spot price of phenol ketone is $200 higher than benzene, due to which enterprises could make some profits.

But on Tuesday, CFR China price of phenol was $815 per ton, meaning, phenol was lower than pure benzene. Total operation rate of aromatic plants in Asia is at low levels, due to limited supply of pyrolysis gasoline and this situation may last until July.

Fibre2fashion News Desk - China


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