Post-holiday China benzene market remains steady

18 February 2008 07:16  [Source: ICIS news]

SHANGHAI (ICIS news)--Post-holiday benzene prices in China were steady at yuan (CNY) 8,500-8,700/tonne ($1,184-1,212/tonne) ex-warehouse, barely showing any change from the pre-holiday level, amid oversupply, traders said on Monday.

While deliveries were delayed on pre-holiday, snow-inflicted transport problems in south China, markets in other areas saw very less trading activity since many downstream buyers were still on holiday, added one of the sources.

The supply glut in the domestic benzene market, combined with firm international prices also limited transactions,  some importers said..

Traders said they expected the sluggishness to continue until most participants returned to the market.

($1=CNY7.18)

By: Dolly Wu
+65 6780 4359

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