China’s benzene imports rise by 4% in August on tight supply
26 September 2012 04:17 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s benzene imports in August increased by 4% month on month because of limited local supply amid an optimistic outlook of the domestic benzene market, traders said on Wednesday.
Domestic supply was tight as a result of recent plant shutdowns and production cuts, which may cause prices to firm in the near future, traders added.
China imported 12,023 tonnes of benzene in August, up by 4% month on month, at an average price of $1,177/tonne (€906/tonne), according to data from China Customs.
The breakdown of import sources from the data showed that 49.9% of benzene cargoes were from South Korea, while 26.2% of them were from Thailand and 23.9% from Japan.
China exported 6,567 tonnes of benzene in August, rise by 1,579 tonnes month on month and at an average price of $991/tonne, according to the data.
The breakdown of export destinations from the data showed that 56.1% of benzene were exported to Taiwan, while 43.8% were exported to South Korea.
($1 = €0.77)By: Helen Han
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