① Due to partial unit reductions and shutdowns, the operating rate for hydrogenated benzene fell by 0.47% this week to 55.03%.
② Feedstock crude benzene prices remained largely stable this week, while hydrogenated benzene prices continued to rise. The spread between crude benzene and hydrogenated benzene widened, increasing margins for Shandong hydrogenated benzene producers, which closed at 500 RMB/ton.
③ Sinopec East China’s posted price for pure benzene remained stable, currently executing at 10,200 RMB/ton.
| Product | Region/Category | Oct 8 | Sep 30 | Change | % Change | Unit |
|---|---|---|---|---|---|---|
| Hydrogenated Benzene | Shandong | 10,400 | 10,000 | +400 | +4.00% | RMB/ton |
| Hebei | 10,400 | 9,900 | +500 | +5.05% | RMB/ton | |
| Shanxi | 10,150 | 9,700 | +450 | +4.64% | RMB/ton | |
| East China | 10,550 | 10,150 | +400 | +3.94% | RMB/ton |
Data Source: Chempricehub Information
The Shandong hydrogenated benzene market continued its upward trend from a high level this week, with mainstream transaction prices shifting up to the range of 10,000–10,400 RMB/ton. During the National Day holiday, falling crude oil prices had a certain impact on domestic sentiment in the pure benzene market. However, as most domestic pure benzene markets were closed for the holiday, the hydrogenated benzene market was also inactive. Factories sold two weeks' worth of inventory before the holiday and primarily fulfilled pre-holiday orders during the break; end-of-September shipment prices from Shandong factories stood at 10,000 RMB/ton. On the first day after the holiday, chemical futures rose broadly, with pure benzene and styrene futures surging in tandem and hitting their daily limit-up. Consequently, the hydrogenated benzene market opened higher and maintained bullish momentum.
Pure benzene port inventories in East China have declined, and the volume of imported cargo arrivals remains low, limiting circulating supply. The market has once again seen a short-squeeze-driven rally. Some downstream customers restocked after the holiday, driving transactions through rigid demand chasing higher prices. There is currently no negative feedback transmitting to the pure benzene or hydrogenated benzene markets. It is expected that the domestic hydrogenated benzene market will maintain its high levels in the short term, with mainstream transaction prices referencing a range of 10,000–11,000 RMB/ton.
For more weekly market analysis, please refer to the Chempricehub Information Hydrogenated Benzene Weekly Report.
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