China domestic petroleum benzene prices fall after initially rising in the week

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