Prices have slightly declined from their highs.

1. Today's Summary

① Sinopec East China pure benzene posted price remained stable at 10,600 yuan/ton.

② Today, non-long-term contract transactions of pure benzene in Shandong totaled approximately 2,700 tons. Self-pickup prices ranged from 10,253 to 10,293 yuan/ton, with an average of 10,273 yuan/ton, up 37 yuan/ton from the previous business day.

③ Spot negotiations for pure benzene in East China today were conducted at 10,230–10,480 yuan/ton, averaging 10,355 yuan/ton, down 35 yuan/ton from the previous business day.

④ On October 19, the total commercial inventory of pure benzene at Jiangsu ports (sample data) was 44,000 tons, a decrease of 6,000 tons from the previous period's inventory of 50,000 tons.

2. Spot Market Overview

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

Based on the Shandong region as a benchmark, prices in Lubei remained stable today, while prices in Southwest Shandong declined. Main production areas quoted at 10,200 yuan/ton, with trading currently stagnant. Local refineries held steady at 10,250–10,290 yuan/ton, and inventory zones showed range-bound consolidation. Some local refineries in main production areas achieved premium transactions. Trading volume for hydrogenated benzene remained weak. The reference delivered price for hydrogenated benzene in Jiangsu was 10,350–10,400 yuan/ton.

3. Production Dynamics

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

4. Price Forecast

Today, domestic hydrogenated benzene market prices experienced a slight decline from high levels. Decreasing pure benzene port inventories in East China and sustained high crude oil futures prices provided bottom support for domestic pure benzene and hydrogenated benzene. However, intraday pure benzene futures fluctuated within a high range without clear directional guidance. Additionally, poor downstream margins for pure benzene led buyers to push for lower prices based on rigid demand, dragging down prices for both pure benzene and hydrogenated benzene in East China. In the short term, hydrogenated benzene trends are expected to remain volatile with limited upside and downside potential.

5. Related Product Status

Pure Benzene Market: Driven by strong futures performance and robust negotiations in East China, quotes from local refineries rose slightly or remained stable. Intraday buying sentiment was active, with multiple premium transactions executed.

6. Data Calendar

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