Regional Price Trends of Hydrogenated Benzene

1. Daily Summary

① Sinopec East China posted benzene prices remained stable at 7,900 RMB/ton.

② Today’s Shandong spot non-contract benzene transactions totaled approximately 3,200 tons. Ex-works (self-pickup) prices ranged from 7,600 to 7,653 RMB/ton, with an average of 7,626 RMB/ton, a decrease of 150 RMB/ton compared to the previous trading day.

③ Today’s East China spot benzene negotiations were in the range of 7,850–8,030 RMB/ton, averaging 7,940 RMB/ton, an increase of 80 RMB/ton compared to the previous trading day.

④ On November 9, the total commercial inventory of pure benzene at Jiangsu ports sampled was 25,000 tons, a drawdown of 7,000 tons from the previous period's inventory of 32,000 tons.

2. Spot Market Overview

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

Based on the Shandong region as the benchmark, new prices for Shandong North were not yet finalized today, while prices in Shandong Southwest rose slightly. Prices in major production areas hovered around 7,600 RMB/ton, with local refineries dropping to 7,560–7,650 RMB/ton. During trading hours, tank farm prices followed the bulk commodity trend upwards, but major production area local refineries and hydrogenated benzene continued to follow the downward trend. Local refinery transaction volumes increased. The reference delivered price for hydrogenated benzene in Jiangsu is 7,750–7,800 RMB/ton.

3. Production Dynamics

On November 5, the operating rate for hydrogenated benzene decreased by 1.16 percentage points to 58.68%. Weekly output of hydrogenated benzene was 77,800 tons, a week-on-week decrease of 1,600 tons. This week, the spread between crude benzene and hydrogenated benzene narrowed, reducing profits for hydrogenated benzene producers in Shandong to 47 RMB/ton.

4. Price Forecast

The domestic hydrogenated benzene market sentiment improved today, with prices showing regional divergence. Most regions released new prices, which saw significant declines compared to last week. In Shandong, hydrogenated benzene prices rose slightly, primarily supported by the rebound in crude oil and pure benzene futures markets. Market inquiry activity strengthened, and downstream end-users struggled to find advantageous supply sources, leading to upward adjustments in purchase prices. This also reinforced the willingness of Shandong factories to maintain high quoted prices. In the short term, hydrogenated benzene prices remain at low levels, awaiting directional guidance from new fundamental news.

5. Related Product Updates

Pure Benzene Market: Morning market sentiment was sluggish, with most local refineries maintaining a selling mindset and continuing to cut prices to promote sales. Later in the day, market confidence improved, and several local refineries achieved premium transactions.

6. Data Calendar

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