Downturn in demand impacts global benzene prices

The recent downturn in demand has become one of the main factors affecting benzene market.

Asian benzene price fell US $6 to US $1171 dollars / ton (FOB South Korea) on April 12. Two deals were reached at US $1170 / ton and $ 1,172 / ton (FOB Korea), respectively.

European benzene price declined by $2.5 to $1172 / ton (CIF ARA), sales and purchase intention was in the range of US $1165-1175/ ton. However, traders were reluctant to lower their offers.

US benzene price edged up 1 cent. April cargo was traded at 409 cents / gal (FOB USG), discussion was in the range of 405-412 cents / gallon.

In China's domestic market, benzene prices in East China was in the range of 8,500-8,550 Yuan / ton, in South China, it was in the range of 8,400-8,600 Yuan/ ton and in North China, it stood around 8,500-8,500Yuan / ton.

Recent downturn in demand has become one of the main factors affecting benzene market. The rebound in oil prices has also put a great deal of pressure on benzene market.

Short-term weak consolidation in various markets has created increasing difficulty for benzene market to improve. So, negotiation atmosphere in benzene market is hard to turn better in the short term.