ICE Brent crude futures (November contract) closed at $100.34/bbl, down $3.53/bbl (-3.40% WoW).
Listed prices for domestic aromatics-related products mainly declined, with adjustments ranging from RMB 50 to 70 per ton.
Price change rate: As of September 21, the comprehensive crude oil price change rate stood at 11.28%. This is the 8th working day within the pricing cycle. The expected adjustment is an increase of RMB 530 per ton. The refined oil product price adjustment window will open at 24:00 on September 24.
Table 1: Closing Prices of Domestic Mixed Aromatics Market
Unit: RMB/ton, USD/ton
| Market | Specification | Sep 21 | Sep 22 | Change |
|---|---|---|---|---|
| Shandong | 8373-8507 | 8250-8283 | -123/-224 | |
| East China | 7000-8520 | 7000-8230 | 0/-290 |
Trading volumes for domestic aromatics-related products remained moderate today, while quoted prices from domestic plants trended lower.
International crude oil prices have fallen for four consecutive sessions, providing limited support to the market. Gasoline prices continued to weaken, offering little incentive for downstream customers to procure. Consequently, prices for aromatics-related products edged lower from a stable position. Downstream clients purchased according to demand. Auction premiums were slight at approximately 10, with mainstream transaction prices ranging between RMB 7,000 and 8,283 per ton.
Today, domestic plant operating rates remained stable, keeping supply levels steady. Listed prices for aromatics-related products primarily decreased, with adjustments in the range of RMB 50–70 per ton.
Crude oil futures traded slightly stronger during the session but offered limited support to the spot market. Overall supply remains low, with auction premiums around 10. Trading volumes showed no significant improvement compared to yesterday. Gasoline procurement is largely driven by rigid demand, though vessel sales provide some consumption support. Domestic prices for aromatics-related products are expected to trade weakly tomorrow.
Gasoline: Crude oil prices closed lower for consecutive days with widening declines, exacerbating bearish market sentiment. High crude prices have led to sluggish terminal consumption, while narrow retail-wholesale margins have reduced both volume and profit potential for downstream players, resulting in low purchasing willingness and thin trading activity. Diesel prices remain relatively firm due to tight spot supply. Overall, domestic gasoline prices are expected to decline today, while diesel prices stabilize amid fluctuation.
Crude Oil: The United States plans to hold meetings with several Middle Eastern oil-producing countries to discuss the situation regarding Iran. Market attention is focused on progress toward renewed US-Iran talks, which has marginally eased concerns about supply disruptions. International crude oil prices may see further downside space today. Regarding import crude grades, spot premiums/discounts for mainstream grades continue to run at high levels.
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