Raw materials are basic for the growth of textile and chemical industries, and Benzene takes the pride position among them.
It is used in manufacturing nylon and synthetic fibers, worldwide, and thus, its prices affect entire downstream industry that hold prospects for muti-billion dollars worth industry on the rise.
Following withdrawal in prices in the US and European markets, Asian markets followed suit despite Benzene prices peaking during the day.
Marking up at US $750 per metric ton FOB Korea, this Benzene price level was not to sustain, for long.
Final resting price point with $30 decline saw arrival at $720 per metric ton FOB Korea, even as the US prices recline back at 255 cents per gallon FOB US Gulf mark.
A few traders seem disinterested in the market happening and foresee active participation once prices reach a threshold.
marketing@alchempro.com
