Hydrogenated benzene prices edged down from elevated levels amid a lack of market catalysts over the weekend.

1. Today's Summary

① Sinopec East China pure benzene posted price remained stable at 10,600 RMB/ton.

② Today, Shandong pure benzene non-long-term contract transactions totaled approximately 1,800 tons. Ex-works prices ranged from 10,453 to 10,503 RMB/ton, with an average of 10,478 RMB/ton, down 73 RMB/ton from the previous business day.

③ Today, East China pure benzene spot negotiations occurred in the range of 10,600–10,800 RMB/ton, with an average of 10,700 RMB/ton, unchanged from the previous business day.

④ On October 8, the total commercial inventory of pure benzene at Jiangsu ports (sample data) was 53,000 tons, a decrease of 8,000 tons from the previous period's inventory of 61,000 tons.

2. Spot Market Overview

Table 1: Domestic Hydrogenated Benzene Price Summary (Unit: RMB/ton)

Based on the Shandong region, prices in Lubei remained stable today, while prices in Southwest Shandong declined slightly. New prices in major production areas were around 10,450 RMB/ton. Local refineries saw slight declines to 10,450–10,500 RMB/ton. Inventory levels in storage areas remained high, but mainstream negotiations for local refinery products in major production areas showed slight softening. Trading sentiment was positive. The reference delivered price for hydrogenated benzene in Jiangsu was 10,600–10,700 RMB/ton.

3. Production Dynamics

On October 8, the operating rate for hydrogenated benzene decreased by 0.47 percentage points to 55.03%. Weekly output of hydrogenated benzene was 73,000 tons, a week-on-week decrease of 6,000 tons. Raw material crude benzene prices remained stable this week, while prices for hydrogenated benzene and by-products rose. Profits for hydrogenated benzene enterprises in Shandong increased, settling at 500 RMB/ton.

4. Price Forecast

Over the weekend, trading in the domestic hydrogenated benzene market slowed as most factories concluded weekly order negotiations. Sporadic negotiations occurred at lower levels following slight declines from highs. With futures markets closed and lacking new information guidance, market sentiment cooled. Factories aimed to maintain higher selling prices, but downstream buyers with rigid demand pushed for lower procurement prices. As receiving prices adjusted downward, spot prices for both pure benzene and hydrogenated benzene experienced slight declines. Next week, hydrogenated benzene prices are expected to remain at relatively high levels, with attention focused on new market drivers.

5. Related Product Status

Pure Benzene Market: Pure benzene basis weakened, and market sentiment softened compared to previous periods. However, regional demand remained stable, and intraday trading activity was positive.

6. Data Calendar

Table 2: Domestic Hydrogenated Benzene Data Overview (Unit: RMB/ton, 10,000 tons)