① Sinopec East China listed price for pure benzene remained stable at CNY 10,300/ton.
② Today’s non-long-term contract transactions of pure benzene in Shandong totaled approximately 1,500 tons. Ex-works (self-pickup) prices ranged from CNY 10,050 to 10,103/ton, with an average of CNY 10,076/ton, down by CNY 2/ton compared to the previous working day.
③ Spot negotiations for pure benzene in East China were conducted within the range of CNY 10,000–10,130/ton, averaging CNY 10,065/ton, a decrease of CNY 170/ton from the previous working day.
④ On October 26, the total commercial inventory of pure benzene at Jiangsu ports was 27,000 tons, representing a drawdown of 17,000 tons from the previous level of 44,000 tons.
Table 1: Domestic Hydrogenated Benzene Price Summary (Unit: CNY/ton)
| Market | Specification | Oct 29 | Oct 30 | Change | % Change |
|---|---|---|---|---|---|
| Shandong Lubei | Ex-works | 10075 | 10075 | 0 | 0.00% |
| Shandong Lubei | Delivered | 10020 | 10000 | -20 | -0.20% |
| Shandong Southwest | Ex-works | 10050 | 10035 | -15 | -0.15% |
| Hebei Tangshan | Ex-works | 9900 | 9900 | 0 | 0.00% |
| Hebei Handan/Xingtai | Ex-works | 10040 | 10040 | 0 | 0.00% |
| Ningxia | Ex-works | 9800 | 9600 | -200 | -2.04% |
| Inner Mongolia | Ex-works | 9750 | 9500 | -250 | -2.56% |
| Henan | Ex-works | 10025 | 10025 | 0 | 0.00% |
| Shanxi | Ex-works | 9975 | 9975 | 0 | 0.00% |
| Anhui | Ex-works | 10275 | 10275 | 0 | 0.00% |
| Jiangsu | Delivered | 10125 | 10125 | 0 | 0.00% |
| Key Downstream Products | |||||
| East China | Styrene | 11310 | 11360 | 50 | 0.44% |
| East China | Phenol | 9875 | 9875 | 0 | 0.00% |
| Shandong | Aniline (Acceptance Bill) | 16600 | 16600 | 0 | 0.00% |
| East China | Cyclohexanone | 11700 | 11650 | -50 | -0.43% |
| East China | Adipic Acid (Acceptance Bill) | 10050 | 9850 | -200 | -1.99% |
| East China | Caprolactam (Liquid) | 13900 | 13625 | -275 | -1.98% |
| Data Source: Chempricehub Information |
Based on the Shandong region, today’s prices in Lubei remained stable, while the decline in Southwest Shandong narrowed. Main production areas quoted at CNY 10,020/ton. Local refineries saw prices drop around CNY 10,050–10,100/ton. Inventory areas continued to show weak fluctuations. Both local refineries and hydrogenated benzene producers in main production areas faced slight downward pressure. Transactions are currently following lower prices. The delivered price reference for hydrogenated benzene in Jiangsu is CNY 10,100–10,150/ton.
On October 28, the operating rate for hydrogenated benzene decreased by 1.06 percentage points to 59.84%. Weekly production of hydrogenated benzene was 79,400 tons, a week-on-week decrease of 1,400 tons. This week, the spread between crude benzene and hydrogenated benzene widened, leading to increased profits for hydrogenated benzene enterprises in Shandong, closing at CNY 570/ton.
The domestic hydrogenated benzene market sentiment improved today, with declines narrowing. Crude oil futures rose from high levels, combined with low port inventories of pure benzene and styrene in East China, indicating that the tight supply pattern remains unchanged, providing bottom support for pure benzene prices. In the afternoon session, futures rose further, causing Shandong pure benzene prices to stabilize, and hydrogenated benzene factories became reluctant to sell at low prices. In the short term, amid bullish-bearish tug-of-war, the hydrogenated benzene market is expected to remain in consolidation and wait-and-see mode, with attention focused on crude oil trends before and after next week's US midterm elections.
Pure Benzene Market: Strong crude oil prices drove futures upward today. Most local refineries in Shandong stabilized their prices, continuing to ship at yesterday’s levels, with general transaction activity.
Table 2: Domestic Hydrogenated Benzene Data Overview (Unit: CNY/ton, 10,000 tons)
| Data Item | Release Date | Previous Period Data | Current Trend Forecast |
|---|---|---|---|
| Coke Plant Operating Rate | Friday 11:00 AM | 71.12% | ↗ |
| Coke Plant Profit | Friday 11:00 AM | -27 | ↗ |
| Pure Benzene Port Inventory | Monday 11:00 AM | 2.7 | ↘ |
| Styrene Port Inventory | Monday 11:00 AM | 2.47 | ↘ |
| Styrene Production | Thursday 5:00 PM | 31 | ↗ |
| Caprolactam Production | Thursday 5:00 PM | 11.48 | ↘ |
| Data Source: Chempricehub Information. Notes: 1. ↓↑ indicates significant volatility, highlighting data dimensions with changes exceeding 3%. 2. ↗↘ indicates narrow-range fluctuations, highlighting data with changes within 0-3%. |
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