China benzene down CY50-100/tonne on crude falls, weak demand

14 May 2012 10:57  [Source: ICIS news]

SINGAPORE (ICIS)--Spot benzene prices in east China fell by yuan (CNY) 50-100/tonne ($8-16/tonne) on Monday, in line with regional prices, tracking declines in the international crude futures markets.

Prices were assessed at CNY8,350-8,450 ex-tank east China on Monday, down from CNY8,450-8,500/tonne on 11 May, according to Chemease, an ICIS service in China.

In Asia, benzene prices declined to a four-month low of $1,120-1,140/tonne (€862-878/tonne) FOB Korea, shedding $45-55/tonne at midday on Monday, ICIS data showed.

Crude futures, meanwhile, were down by more than $2/bbl on Monday on concerns over demand and the eurozone crisis.

In China, benzene buyers have been holding off purchases amid an uncertain global economic outlook, market players said.

($1 = CNY6.31 / $1 = €0.77)

By: Crystal Zhao

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