Prices continue to rise.

1. Today's Summary

① Sinopec East China posted price for pure benzene remained stable at 9,600 RMB/ton.

② Today, non-contract transactions of pure benzene in Shandong totaled approximately 2,400 tons. Ex-works prices ranged from 9,750 to 9,873 RMB/ton, with an average of 9,811 RMB/ton, up 112 RMB/ton from the previous working day.

③ Spot negotiations for pure benzene in East China were conducted at 9,700–10,000 RMB/ton today, with an average of 9,850 RMB/ton, rising 245 RMB/ton from the previous working day.

④ As of September 21, total commercial sample inventory of pure benzene at Jiangsu ports stood at 44,000 tons, an increase of 6,000 tons from the previous period's 38,000 tons.

2. Spot Market Overview

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

Based on the Shandong region as a benchmark, prices in Northern Shandong remained stable today, while prices in Southwestern Shandong rose. In main production areas, quotes reached 9,750 RMB/ton. Local refinery prices increased to 9,750–9,870 RMB/ton. Inventory levels showed signs of upward movement. Both local refineries and hydrogenated benzene producers in main production areas continued to raise prices. Local refineries saw premium-priced volume sales, whereas no significant transaction reports were heard regarding hydrogenated benzene. Reference delivered prices for hydrogenated benzene in Jiangsu stood at 9,800–9,900 RMB/ton.

3. Production Dynamics

On September 17, the operating rate for hydrogenated benzene increased by 1.82 percentage points to 59.42%. Weekly output of hydrogenated benzene was 78,800 tons, a week-on-week increase of 2,400 tons. This week, profit margins for hydrogenated benzene enterprises in Shandong decreased to -83 RMB/ton.

4. Price Forecast

Today, the domestic hydrogenated benzene market maintained an upward trend. Futures prices for pure benzene continued to rise, compounded by limited spot circulation of domestic pure benzene, leading to further price increases. Pure benzene prices in East China surged above 10,000 RMB/ton, while Shandong pure benzene extended its strong upward momentum. Raw material crude benzene prices rose sharply, widening the loss margin for hydrogenated benzene plants, which fueled aggressive price-raising sentiment. Before the upcoming holidays, hydrogenated benzene plants are selling two weeks' worth of inventory, and prices are expected to remain at high levels.

5. Related Product Status

Pure Benzene Market: Influenced by rebounding crude oil prices and rising futures markets, Shandong pure benzene opened higher and continued to gain today. Overall transactions showed premium pricing with increased volumes.

6. Data Calendar

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