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Textiles

Benzene prices slashed

08 Mar '06
1 min read
Due to decline in crude and naphtha prices, benzene prices in Asia dropped considerably, on Tuesday.

Sliding global aromatics complex prices in the US and Europe, further support this downtrend.

Sources report that the buyers are stocking up their requirement, hence the traders who are waiting for April shipments will suffer.

While the benzene offers are pegged around US $695 per metric ton Korea mark, buyer bids stand even lower at $675 per metric ton.

Sources explained that the falling downstream SM and toluene price is also the reason for major drop in benzene prices.

Buyers are confident that the prices will slide even lower, soon, and thus, it is in their own interest to wait.

With the crude prices dropping continuously, the anticipated benzene prices stand at $650 per metric ton levels, for the future.

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