CMAI: Benzene markets to remain tight through 2007

After experiencing a year of record high prices in 2004, the global benzene market will remain in a tight supply-demand balance through 2007, according to a recent study from Chemical Market Associates Inc. (CMAI), Houston."The past 10 years or so [have] been 7 years of famine and a couple of years of feast in terms of profitability for making benzene," according to Simon Palmer, Director, Aromatics for CMAI, and the study's author. "And that's been the problem—there hasn't been much of a reward to the producers during most of the last 10 years.Essentially, there has been little incentive to build new equipment and capacity growth has lagged demand growth."This supply-de...

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