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Asian Benzene price hits record high in August

06
Aug '09
The Asian Benzene market rose for three consecutive days and the price broke through the US $900 per ton mark on Wednesday to set a record high for this year. FOB Korea closed at $915-916 per ton, while, FOB Southeast Asia closed at $903-904 per ton.

In the morning, market trades were active, though September offers were less. MBK concluded a deal with GS Caltex at $918 per ton (FOB Korea), for shipment in September.

Due to support of crude oil and higher arbitrage price in the US-Gulf market, the spread between September and October expanded, while shipment for October was light.

Pertamina in Indonesia increased its benzene output at Cilacap, Central Java to full operating capacity. The operation rate of its aromatics capacity was around 60 percent in June due to a fire-caused failure of crude oil cracker.

Fibre2fashion News Desk - China


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