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Asian benzene markets on a high

17
Sep '09
Asian Benzene market went higher on Wednesday due to many uncertainties in recent time and short covering by businessmen, the market was quite active in the afternoon and closed higher by US $15.5 per ton.

FOB South Korea Benzene closed at $798.25-799.25 per ton and FOB Southeast Asia Benzene closed at $786.25-787.25 per ton.

Early in the afternoon, Elico made a deal with BIT at $805 per ton, FOB Korea, for shipment in the first half of November, then GS Caltex bought October cargoes from SK Networks and Interchem company at $798 per ton, shipment in the second half of October.

C Chem and Trammochem made an outside of market deal at $799 per ton for shipment in November. Shanghai Petrochemical opened its new Paraxylene plant in Jinshan. The plant has PX capacity of 600,000 tons per year and Benzene capacity of 280,000 tons per year.

With restarting plan of styrene units, pure benzene exports from Japan are expected to decline from September to November. Asahi Kasei plans to close its No 3 plant in Mizushima on October 11 for 40-days maintenance, the plant with 39 million tons of capacity is tentatively scheduled to resume production on November 20.

Japan Oxirane plans to close its styrene plant with 425,000 tons per year capacity in Chiba for 5 weeks of maintenance. Exxon Mobil plans to ship 4,000 tons of aromatics from Singapore to Al-Jubail by mid-October.

It has also been reported that, production of benzene in China reached 2.97 million tons in the period January to August of 2009, representing an increase of 12 percent year on year.

Fibre2fashion News Desk - China


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