Asia benzene slips $20/tonne on crude, weaker demand

17 February 2009 10:25  [Source: ICIS news]

SINGAPORE (ICIS news)--Asian benzene spot prices have fallen $20/tonne during trading due to a slide in crude values and a slowdown in demand from China, traders said on Tuesday.

Prices fell to levels of $425-435/tonne FOB (free on board) Korea late in the afternoon, $20/tonne lower than Monday’s levels, according to global chemical market intelligence service ICIS pricing.

A deal was reported at $430/tonne FOB Korea for any April loading. Offers for the same month slid to $435/tonne FOB Korea in the late afternoon from $460/tonne FOB Korea in the morning.

A decline in crude values on Tuesday to $36/bbl, along with the overall depressed economic conditions, were exerting pressure on benzene prices, said a trader.

China also stopped buying imported parcels this week, after purchasing heavily in the past two months, according to another regional trader.

For more information on aromatics visit ICIS chemical intelligence
Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry go to ICIS connect

By: Mahua Chakravarty
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly