Benzene prices 'stay put' even as buyer remains interest low
30 Jan '06
1 min read
Benzene is an important industrial solvent and precursor in the production of drugs, plastics, gasoline, synthetic rubber, and dyes.
It is an intermediate to manufacture other chemicals that are used to make polymers and plastics, phenol for resins and adhesives and cyclohexane, which is used in nylon manufacture.
Benzene prices in Asia were stable, supported by strong upstream energy and ethylene prices.
Sources said that traders backed their target offers for February, and seem optimistic about sales.
However, sales declined in some parts of Asia, particularly in China as a result of Lunar Holidays.
Buyer bids have lowered due to slowing demand.
February contract prices are pegged at US $780 per metric ton FOB Korea levels.
SM prices in Asia are unable move up even at $1100 per metric ton FOB Korea which was rejected by buyers.
Chinese Holidays has clearly affected sales as well as production.
Hence, the overall situation is affecting benzene prices with buyer bids thinning out.
marketing@alchempro.com
