- East China inventory was at 17,500 mt- Sinopec reduced the listing price by Yuan 200-250/mt



Asian benzene prices were assessed at $993-1020/mt
FOB Korea marker, Aug. 4, by $25.33-30.35/mt. Near the market close, the
September loading FOB Korea cargo offer was heard at $997-1020/mt. This was
against a $994-1010/mt bid. The
September/October inter-month spread was reduced
by $5-6/mt at $6-7/mt backwardation. Sources
indicated that the benzene operation rates in Northeast Asia are falling due to
a lower margin and slow demand from downstream styrene monomer sectors. Participants in the market expected that the Asian -US arbitrage would be closed starting in August. This will make
China the largest consumer of local producers and could lead to a downward
trend in spot prices. According to market
sources, China's domestic benzene market inventory level was at a low...