The decline has narrowed, with localized slight increases.

1. Daily Summary

① Sinopec East China pure benzene posted price was lowered by 300 RMB, currently executing at 8,500 RMB/ton.

② Today’s Shandong pure benzene non-long-term contract transactions totaled approximately 3,400 tons. Self-pickup prices ranged from 8,263 to 8,307 RMB/ton, with an average of 8,285 RMB/ton, down 191 RMB/ton from the previous business day.

③ Today’s East China pure benzene spot negotiations were conducted in the range of 8,270–8,470 RMB/ton, averaging 8,370 RMB/ton, a decrease of 80 RMB from the previous business day.

④ On November 2, the total commercial inventory of pure benzene at Jiangsu ports (sample basis) stood at 32,000 tons, an increase of 5,000 tons compared to the previous period’s inventory of 27,000 tons.

2. Spot Market Overview

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

Taking the Shandong region as the benchmark, prices in Lubei fell today while those in Southwest Shandong rose slightly. Prices in major production areas rebounded modestly to the 8,250–8,300 RMB/ton range, while local refineries dropped to 8,260–8,300 RMB/ton. The downward trend in storage areas slowed during the day; in the afternoon, major state-owned refineries continued to cut prices by 300 RMB. Local refineries and hydrogenated benzene producers in major production areas followed suit with price cuts. Trading activity improved, and reference delivered prices for Jiangsu hydrogenated benzene settled at 8,350–8,450 RMB/ton.

3. Production Dynamics

On November 5, the operating rate of 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 Shandong hydrogenated benzene enterprises to 47 RMB/ton.

4. Price Forecast

On Friday, sentiment in the domestic hydrogenated benzene market improved, with localized stabilization and slight increases. Overnight crude oil prices closed higher, narrowing the decline in both futures and spot pure benzene markets. Some traders and downstream buyers engaged in opportunistic purchasing, leading to increased inquiries and higher transaction volumes. Hydrogenated benzene plants began holding firm on prices. In the short term, market participants are focusing on developments in the Middle East; further downside potential for hydrogenated benzene is expected to be limited.

5. Related Product Updates

Pure Benzene Market: Market sentiment remained sluggish, with most local refineries continuing to lower their offers. After the price drop, trading negotiations became more active, and several local refineries achieved premium transactions.

6. Data Calendar

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