Hydrogenated benzene weakens with a downward trend

1. Daily Summary

① Sinopec East China posted price for pure benzene decreased by 200 yuan, currently at 10,600 yuan/ton.

② Today’s non-long-term contract transactions for pure benzene in Shandong totaled approximately 900 tons. Self-pickup prices ranged from 10,247 to 10,353 yuan/ton, with an average of 10,300 yuan/ton, down 203 yuan/ton compared to the previous business day.

③ Spot negotiations for pure benzene in East China today were conducted between 10,250 and 10,350 yuan/ton, averaging 10,300 yuan/ton, a decrease of 115 yuan from the previous business day.

④ As of October 12, total commercial inventory of pure benzene at Jiangsu ports was 50,000 tons, a reduction of 3,000 tons from the previous period's 53,000 tons.

2. Spot Market Overview

Table 1: Domestic Hydrogenated Benzene Price Summary (Unit: Yuan/Ton)

Based on the Shandong region, prices in Northern Shandong remained stable today, while those in Southwestern Shandong declined. New prices in major production areas fell to 10,150 yuan/ton, and local refinery prices dropped to 10,240–10,350 yuan/ton. Inventory zones continued to fluctuate downward. Both local refineries and hydrogenated benzene producers in major production areas followed this downward trend. Trading volume for local refineries was low, but lower-priced hydrogenated benzene saw transaction follow-through. The reference delivered price for hydrogenated benzene in Jiangsu is 10,250–10,300 yuan/ton.

3. Production Dynamics

On October 15, the operating rate for hydrogenated benzene increased by 4.81 percentage points to 59.84%. Weekly output reached 79,400 tons, an increase of 6,400 tons week-on-week. This week, the price spread between crude benzene and hydrogenated benzene narrowed, reducing profits for Shandong-based hydrogenated benzene enterprises to 410 yuan/ton.

4. Price Forecast

Today, the domestic hydrogenated benzene market showed weak downward trends. Crude oil futures continued to retreat, dragging down pure benzene and styrene futures, resulting in a sluggish market sentiment. Domestic pure benzene spot prices faced pressure and declined. Sporadic shipments from some hydrogenated benzene plants further pushed prices lower. In the short term, hydrogenated benzene prices are expected to loosen amid high-level fluctuations. Attention should be paid to the impact of the latest international developments on pricing.

5. Related Product Status

Pure Benzene Market: Falling crude oil prices led to continued softening of pure benzene in East China today. Inventory pressure at Shandong local refineries was not significant, leading to only narrow downward adjustments. Apart from a few manufacturers achieving decent sales volumes, most transactions occurred sporadically at bottom-tier prices.

6. Data Calendar

Table 2: Domestic Hydrogenated Benzene Data Overview (Units: Yuan/Ton, Ten Thousand Tons)