China launches benzene futures

China's Dalian Commodity Exchange (DCE) officially launched benzene futures on Tuesday, with benzene options to be launched later in the day.

The trading of futures and options for benzene, an important chemical raw material, has been green-lighted by the China Securities Regulatory Commission (CSRC) on June 20.

At 9:00 Tuesday, benzene futures commenced trading on the DCE.

The first batch of listed contracts includes four varieties, with a trading unit of 30 tonnes per lot and a delivery unit of 30 tonnes, adopting physical delivery.

Experts say the the launch of benzene futures and options will furnish the industry with effective risk management tools and enhance China's say in pricing at global benzene market.

"The launch of benzene futures and options will fill the gap in risk management tools for raw materials in the aromatics industrial chain. Together with the already listed styrene futures and options, they will form a comprehensive hedging toolkit, more efficiently helping enterprises on the industrial chain to stabilize profits and maintain steady production and operations," said Yan Lin, senior manager of the DCE's Commodity Department.

Benzene is a crucial organic chemical raw material, closely linked to national economic development and public livelihoods.

Its upstream supply relies on two major energy sources - oil and coal, and its downstream applications span three key industries: synthetic resins, synthetic fibers, and synthetic rubber.

It is widely used in textiles, home appliances, tires, dyes, and other products.

China is the world's largest producer and consumer of benzene.

In 2024, China's benzene output reached 25.13 million tonnes, with apparent consumption hitting 29.26 million tonnes.

Its market scale has exceeded 208.6 billion yuan (about 29 billion U.S. dollars).

China launches benzene futures

The Bhumjaithai Party has emerged as the largest party in Thailand's House of Representatives, according to preliminary results released by the country's Election Commission on Monday.

As of 94 percent vote counting the Bhumjaithai Party captured 193 seats.

"Bhumjaithai's victory today is a victory for all Thais, whether you voted for Bhumjaithai Party or not," said Anutin Charnvirakul, Thailand's caretaker Prime Minister and leader of the Bhumjaithai Party at a press conference on Sunday.

Thai political analyst said the desire for stability is the key for Anutin's election success.

"What determined the winning of the election this time is the nationalist sentiments, the conflict that we have with Cambodia, the stability that they need at this particular point. And I think for the rural voters who actually voted more for Bhumjaithai, for them, I think they need a safety net which is not about large economic reforms, but they need something which is closer to them," said Virot Ari, a political analyst at Bangkok’s Thammasat University.

Since the Bhumjaithai Party failed to secure more than half of the seats in the lower house, it has to form a coalition government with other political parties.

The People's Party and the Pheu Thai Party ranked second and third, respectively, with 118 and 74 seats. The Kla Tham Party and the Democratic Party each got 58 and 22 seats, taking fourth and fifth positions.

Natthaphong Ruengpanyawut, leader of Thailand's People's Party, told the press on Sunday that the party is ready to act as the opposition party.

"No matter the reasons behind how people voted today, the People's Party is ready to continue working in politics, to rebuild political institutions, and to push forward policies for all people," he said.

Thailand’s Bhumjaithai Party prepares for coalition talks after election win