Sliding to the US$1100/MT mark, benzene prices in Asia have fallen to five-month lows, corresponding with weakening crude oil prices as well as persistent oversupply in the region. A further drop in benzene values has been estimated, as the oversupply is expected to extend on account of an influx of cargoes from Iran and Singapore totaling to 24,000 tons in two equal cargoes. Several buyers prefer to wait in the sidelines in anticipation of the priced dip. The 40 day shutdown of Sinopec Tianjin Petrochemical's 680,000 tpa BTX plant is not expected to affect market sentiments.
16-Sep-08 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}