I. Key Focus Points
Overseas Benzene: FOB Korea fell by USD 20 to USD 1,178/ton; CFR China fell by USD 29 to USD 1,201/ton. FOB Rotterdam fell by USD 74 to USD 1,244/ton; FOB US Gulf Coast (USG) fell by 65 cents to 377 cents/gallon.
Crude Oil: Continued efforts toward US-Iran negotiations eased market concerns regarding supply risks, leading to a decline in international crude oil prices. The front-month Brent futures contract (January delivery) on ICE closed at USD 104.77/barrel, down USD 8.66/barrel, representing a week-on-week change of -7.63%.
| Region | Nov 2 | Oct 30 | Change Rate |
|---|---|---|---|
| FOB Korea | 1178 | 1198 | -1.67% |
| CFR China | 1201 | 1230 | -2.36% |
| East China Market | 9750 | 10065 | -3.13% |
| Shandong Market | 9826 | 10076 | -2.48% |
| Notes: | |||
| 1. Units for FOB Korea and CFR China benzene are USD/ton; units for domestic benzene are CNY/ton. | |||
| 2. Benzene prices represent the average closing price of mainstream markets. | |||
| 3. All RMB prices in the table above are spot exchange rates, tax-inclusive, ex-works prices. | |||
| 4. The change rate refers to the period-over-period percentage change. |
II. Market Outlook
Yesterday, the significant drop in crude oil prices led to softness in both overseas and domestic benzene markets, with major producers following suit in price cuts. Prices in both the East China and Shandong markets declined yesterday, accompanied by weak trading activity. Therefore, benzene is expected to open lower and continue its downward trend today.
| Data Item | Release Date | Previous Period Data | Expected Trend for Current Period |
|---|---|---|---|
| East China Port Benzene Inventory | Monday 16:00 PM | 32,000 tons | ↘ |
| Weekly Benzene Capacity Utilization Rate | Thursday 18:00 PM | 72.98% | ↗ |
| Weekly Benzene Profit Margin | Thursday 18:00 PM | 1,799 CNY/ton | ↘ |
| 1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%. | |||
| 2. ↗ ↘ indicates minor fluctuation, highlighting data dimensions with changes within 0–3%. |
Comments
0