As the downstream demand for pure benzene in Asia has been very strong, and the new capacity is limited, the supply of pure benzene in this year is tight. According to relevant statistics, this year, the demand for pure benzene in the Asian region will increase by one year, and the newly added capacity is only in Vietnam and the Middle East, with a total annual production capacity of 650,000 tons, which is obviously insufficient.
Since the end of 2016, the supply of pure benzene in Asia has been tight, causing spot prices to soar to about $1,000 per ton in early 2017. In 2017, a pure benzene plant with an annual production capacity of 500,000 tons was put into operation in India. Several Korean manufacturers have expanded their capacity during the overhaul of the cracker to increase the original benzene production capacity by 400,000 tons per year. Nonetheless, due to the failure of related equipment operations and the increase in demand for benzene, the supply of benzene in the Asian market in 2017 is still insufficient.
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