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Asian benzene trends turn soft again

24
Jun '10
Asian benzene market went soft again on Wednesday. FOB Korea closed at US $808.5-809.5/ ton, FOB Southeast Asia closed at $792.75-793.75/ ton, down $3.75/ ton.

In the morning, offers for arbitrary shipment in August and September fell from $820 to $815/ ton, counteroffers stood at $790 / ton.

A single deal outside the trading screen was reached at $815/ ton FOB Korea for shipment in September; the buyer was Interchem, while the seller was unknown.

In the afternoon, offers for shipment in August maintained at $810-815/ ton and offers for shipment in September were $808-820/ ton, but no transactions were reported.

The Chinese domestic benzene market was firm. Benzene inventory in China is at highest level. Market price in East China ranged 6200-6300 Yuan / ton, price in South China touched 6050-6100 Yuan / ton and price in North China reached 6200-6300 Yuan / ton.

Market participants expect benzene market will continue to undertake a small correction in short term.

Fibre2fashion News Desk


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