Lack of movement steadies benzene prices in Asia

26-Dec-08

Uncertain of benzene market movement and trends, cautious market players were conspicuous by their absence. As a result, prices steadied at last weeks' US$310/MT FOB Korea. Absence of market players, stockpiles that could last until next month, coupled with the Christmas holiday has kept prices stagnant. Most buyers are reluctant to acquire cargoes for the next quarter. Another factor affecting market confidence is absence of positive feedback about restoration of normal operating rates at plants running at reduced run rates.