- East China's domestic market remains flat- Northeast Asia Demand Mixed





As participants re-factored the weak demand
in Northeast Asia, especially China, the Asian benzene markets, which had been
strengthening earlier, it has cooled even further. Since the beginning of last week, no floating
trades have been heard. FOB Korea benzene physical markers
declined $7.66/mt daily to $967.67/mt February 16. According
to multiple sources, the March/April benzene paper spread narrowed reflecting
the sentiment. Timespreads for March/April benzene derivatives
dropped $1/mt per day to $8/mt, and $7/mt respectively. The region
felt the effects of price fluctuations in the East China domestic markets. The East
China domestic indicator had been relatively flattish from the beginning of the
month. It averaged Yuan 7022/mt between February 1-16 or $897.87/mt if you
consider import parity. According to statistics, South
Korean benzene exports...