China benzene imports rise by 35% in February on tight supply

26 March 2012 08:08  [Source: ICIS news]

SINGAPORE (ICIS)--China’s benzene imports in February increased by 35% month on month because of limited supply amid an optimistic outlook on the domestic benzene market, traders said on Monday.

Supply was tightened because of recent plant shutdowns and production cuts, and may cause prices to firm in the near future, the traders added.

China imported 60,487 tonnes of benzene in February, up by 35% month on month, at an average of $1,047/tonne (€785/tonne), according to data from China Customs.

The breakdown of import destinations showed 71.2% of benzene cargoes arrived in Nanjing, while 28.8% arrived in Shanghai, the data showed.

China exported 1,463 tonnes of benzene in February, down by 1,965 tonnes month on month and at an average of $1,009/tonne, according to the data.

The breakdown of export regions showed that 98.6% of benzene were shipped out of Zhanjiang, while 1.4% was exported from Dalian, the data showed.

($1 = €0.75)

By: Crystal Zhao

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