BEIJING, April 9 /PRNewswire-Asia/ -- Frbiz.com, one of China’s leading B2B search platforms, reports on the benzene price soar.
The Benzene price has not been stable. From December 2009 to January this year, Benzene prices suddenly rose by 21%. Frbiz analyzes that this price rise reflects the decline in the U.S. production of benzene, the strong demand for downstream benzene products in Asia and the reduced import volume of benzene.
In addition, crude oil prices since 2008 have dropped sharply since mid-2008, and the crude oil prices led to a number of benzene and other petrochemical products’ to rise. Market demand for gasoline has fallen, cutting benzene production, because benzene is a by-product refining process. At the same time, fluid catalytic cracking unit operators are now switching to liquefied natural gas and other light materials, therefore, leading to a reduced production of benzene. All this has led to the price soar.
Earlier this year, crude oil prices increased rapidly, reaching a US$80 per barrel high. Since then, crude prices fell to less than 70 dollars. As a result, benzene spot prices turned weak in the beginning in January, despite the February contract prices having risen compared with January. However, Frbiz’s analyst expects in March benzene contract prices and spot prices will be lower than in February.
Frbiz analyst said that overall demand this year in the U.S. market should be better than last year, but to what extent remains a question.
About Frbiz.com
Frbiz.com is a promising e-commerce company and a leading vertical search engine company in China. Frbiz.com offers a variety of high quality products such as bag sealers ( http://www.frbiz.com/q-bag_sealer/ ), glc sx ( http://www.frbiz.com/q-glc_sx/ ), alcohol testers
(http://www.frbiz.com/q-alcohol_tester/) and many more.
For more information, please contact:
Frbiz.com
Tel: +86-10-6556-9770
Email: my@frbiz.com