Rally in Benzene prices today, was evident even as Asian buyers showed keen interest to purchase on bottom levels that spurred an upward rally in Benzene, late last evening.
Following the increase in crude prices and buying activity in benzene market in the US & the Europe, only but confirmed this trend.
A rise of 4.25 cents per gallon was registered on hectic purchases in the US and Gulf region was visible among traders and refiners in the US & Gulf region.
Buyers showed enthusiasm to book benzene at the recently slashed prices and a purchase 'fever' is visible with benzene prices in Asia lifting on the news that downstream SM business was depressed, sources said.
Morning rates on seller responses saw about USD 800 per metric ton FOB Korea rates and yet, buyers did not take the quotes. Some activity on raising bid from their side was next noticed to cover dispatches for the US, as the US benzene numbers were heard gaining strength.
Trader interests were active in local markets of China where benzene prices moved to RMB 7500 per metric ton ex-tank level with full backing of traders at that level.
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