Asian pure benzene FOB Korea plummeted US $40 per metric tons to $939-941 per metric tons, Wednesday.
Wednesday morning sellers emerged due to expectation of further decline in stock prices, they were eager to make liquidation.
A lot of February cargo of pure benzene stranded in South Korea, prices facing further down pressure.
Meanwhile the prices in EU were on the same level with Asia, traders often divert goods to EU, which were originally targeted to the US.
In the morning, one transaction for anytime delivery in March traded at $950 per metric tons, FOB Korea, shipment from large port. Another transaction in March delivery closed at $945 per metric tons FOB Korea, shipment from large port.
Following the international market, China's domestic market fell sharply. Traders in the mainstream market offered 9,500 yuan per ton, down 100 yuan from yesterday, Sino-Chem also offered at 9,500 yuan per ton for ex-factory price.
Fibre2fashion, News Desk - China
marketing@alchempro.com
