[Introduction] Tight spot supply is supporting domestic durene prices at a high range of 14,000–15,000 RMB/tonne. However, downstream buyers are maintaining only essential raw material procurement, and high-price negotiations remain sluggish. Whether prices can sustain this high level has become a key market focus.
1. Continued Tightness in Raw Material Supply
At the time of writing, multiple reforming units, including those at Shenghong Refining and Chemical and Fujian Fuhaichuang, are undergoing maintenance. Previously shut-down units such as those at Yangzi Petrochemical and Zhejiang Petrochemical have not resumed operation. Meanwhile, Jinling Petrochemical has no plans to release industrial heavy aromatic C10 (carbon ten crude aromatics) for external sale. The release volume from refineries such as Zhenhai Petrochemical and Shanghai Petrochemical has decreased by nearly half compared with June, sustaining a tight spot supply of industrial heavy aromatic C10.
Due to the reduced release of industrial heavy aromatic C10, the operating rate of domestic durene units using the carbon ten process remains low, at only around 19.20%. Although Shaanxi Huahaoxuan's synthetic-process durene unit is in operation, its operating rate is only about 40%, so the tightness in domestic durene spot supply has not been materially affected.
2. Continued Weakness in Downstream Demand
According to Chempricehub, driven by tight supply, durene market prices have been pushed up to 14,000–15,000 RMB/tonne, but high-priced transactions are rarely heard. Analysis shows that on one hand, downstream crude anhydride and pyromellitic anhydride units are operating at low rates, with manufacturers primarily consuming their existing inventories and maintaining only essential procurement of durene feedstock. On the other hand, market rumors suggest that Hualun New Materials' 20,000-tonne/year durene unit will start up by the end of the month. Buyers of crude anhydride and pyromellitic anhydride are therefore waiting to assess the market impact of that unit's startup, leading to lackluster inquiries for durene feedstock and consequently suppressing market transactions.
3. Durene High Prices Lack Upward Momentum
Table 1: Domestic Durene and Upstream/Downstream Product Price Comparison (2026/07/10–07/17)
| Product | Region | Average This Period (RMB/tonne) | Average Previous Period (RMB/tonne) | Change Value (RMB/tonne) |
|---|---|---|---|---|
| Industrial heavy aromatic C10 | East China | 5,133 | 5,133 | 0 |
| High-boiling aromatic solvent SA1500# | East China | 5,660 | 5,660 | 0 |
| Durene | National | 14,000–15,000 | 14,000–15,000 | 0/0 |
| Pyromellitic anhydride | Shandong | 28,000 | 28,000 | 0 |
| Pyromellitic dianhydride | Shandong | 38,000 | 38,000 | 0 |
Currently, tight supply of domestic industrial heavy aromatic C10 is expected to persist until at least early August. It is reported that cutting plants in East China are actively seeking feedstock sources from Northeast China to fill the regional supply gap. Additionally, synthetic-process durene units also have plans to control output, so the market's price-supporting sentiment remains strong. However, forward contracts for crude anhydride and pyromellitic anhydride are still being fulfilled, while new order negotiations are weak. Low operating rates of downstream units in particular are limiting procurement of durene feedstock.
Even if some crude anhydride and pyromellitic anhydride manufacturers have restocking needs, they remain cautious about purchasing due to concerns about a potential price correction following the upcoming startup of Hualun New Materials' durene unit and other bearish factors. In summary, the domestic durene market lacks momentum for further price increases, but a decline from the high levels is also difficult. Amid the supply-demand stalemate, market negotiations are deadlocked. The overall market is expected to stabilize with narrow fluctuations, with a strong wait-and-see sentiment prevailing.
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