Benzene prices EastChina dropped
Benzene prices in East China have gone downBenzene prices EastChina dropped
MOSCOW – Benzene prices in eastern China dropped at the end of last week, ICIS reported.
So, on May 17, spot quotes for benzene in the region were in the range of 4,480–5,520 yuan (CNY) per ton, dropping by CNY20 per ton in the lower price range and by CNY30 in the upper one.
The unfavorable macroeconomic situation in the market, as well as the downstream market for styrene monomer, had an impact on the Chinese benzene market.
Some sellers have reduced their price offers in an attempt to eliminate stocks of material, which at the beginning of last week put downward pressure on benzene quotes. A significant increase in the price of crude oil in Europe and the United States received an ambiguous reaction from the Chinese market.
In response, most material suppliers took a wait and froze their price quotes. However, buying activity on the downstream market was low, and therefore only a few deals were made.Benzene prices EastChina dropped
Benzene is a raw material for the production of styrene, which, in turn, is the main raw material component for the production of polystyrene (PS).
According to the ICIS-MRC Price Review , the cost of the Russian PS remains the same this week. Manufacturers have not yet reported a possible change in prices in the next month. Benzene prices EastChina dropped
Author: Margarita Volkova