17 June 2008 11:37 [Source: ICIS news]
SHANGHAI (ICIS news)--Crude benzene prices in China have recorded a steep rise of CNY200-300 ($29-43/tonne) in Shandong province and CNY350-450/tonne in Jiangsu province on increased demand and low feedstock, producers said on Tuesday.
Crude benzene was traded at yuan (CNY)6,200-6,300/tonne in Shandong and CNY5,900-6,050/tonne ex-tank in Jiangsu.
"Demand on crude benzene exceeded supply in east China on reduced operation due to environment issues and shortage of coal," said traders.
Downstream coking benzene was traded as high as CNY8,200-8,300/tonne amid active trades, which supported the rise in feedstock crude benzene values, traders said.
Supplies were also snug due to increased demand from the many new hydro-coking benzene units, which came onstream recently, traders said
Most traders said they expected the uptrend to last for another three months.
Grace Zhou from CBI contributed to this article
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