China
petroleum benzene discussions were active in the first half of the week amid
upbeat market sentiment and strong speculation on talk about shipment
restrictions at major Jiangsu ports during the 19th Communist Party of China
(CPC) National Congress in mid-October.
Cargo-holders
lifted their offers and prices for forward cargoes generally rose, which
slightly pushed up spot discussion levels.
In the
second half of the week, the speculative atmosphere faded as confirmed news
said that the shipmen restrictions would not affect petroleum benzene.
Thus, buyers lowered their bids, while sellers cut their offers, dragging down
spot discussion levels. Trading volumes shrank.
At the
close of trade on Friday, spot benzene prices in east China were at yuan (CNY)
6,200-6,250/tonne ex-tank Jiangsu, up by CNY50/tonne compared with last Friday.-----22/09/2017