This week, mainstream pyrolysis C9 prices across the country continued to move up. During the period, the earlier geopolitical conflict between the U.S. and Iran had yet to ease, pushing Brent crude oil prices higher and strengthening cost-side support. Gasoline replenishment demand was moderate, which supported industrial aromatic solvent prices in the early stage. Later, as geopolitical tensions showed signs of easing, crude oil fell for three consecutive days, and solvent prices pulled back from highs. Still, the weekly average closed higher, and overall transaction pace was acceptable. For C9 thermally polymerized petroleum resin, the upward move in pyrolysis C9 feedstock drove offer centers higher. However, downstream buyers showed obvious resistance to high-priced resources and purchased only on a rigid-demand basis, leading to a stalemate in trading. On the supply side, some enterprises cut operating loads, and there are expectations of unit restarts next week. During the period, pyrolysis C9 market availability declined slightly, cost support remained intact, downstream buying interest was fairly active, and independent refineries actively lifted quotations.
At present, pyrolysis C9 output and capacity utilization both declined from the previous period. Gross profits of the two major downstream products diverged: industrial aromatic solvent gross profit fell back sharply this period, while C9 petroleum resin gross profit remained negative. Output and consumption are expected to continue declining slightly in the coming period. Overall, the pyrolysis C9 market will remain firm in the short term.
Unit: yuan/ton
| Market | Last Week | This Week | Change |
|---|---|---|---|
| Northeast China | 4,800 | 5,250 | +450 |
| North China | 5,050 | 5,500 | +450 |
| East China | 5,012 | 5,462 | +450 |
| Central China | 5,050 | 5,500 | +450 |
| South China | 5,080 | 5,563 | +483 |
Data source: Chempricehub Intelligence
This period, the mainstream offer center for C9 thermally polymerized petroleum resin continued its upward trend, driven mainly by rising pyrolysis C9 feedstock prices. Resin prices kept climbing during the week, but as prices were pushed to higher levels, downstream resistance to high-priced resources intensified significantly. Purchases were currently limited to small volumes for rigid demand, and the trading atmosphere remained deadlocked. On the supply side, some enterprises lowered operating loads, dragging capacity utilization down from the previous period. Feedstock prices continued to rise, adding cost support, but downstream actual-order follow-through slowed, and the market showed low acceptance of high-priced resources, which limited how far resin offers could track feedstock gains. Overall, market prices moved up this week on cost support. At present, C9 thermally polymerized petroleum resin grade 10-11# is priced at 6,400-7,000 yuan/ton, and grade 16-18# at 3,900-5,000 yuan/ton.
During this period, domestic industrial aromatic solvent spot prices moved up slightly, with prices fluctuating in a range of 5,950-7,700 yuan/ton. This week, geopolitical tension resurfaced at a low level, and crude oil maintained high levels in the market. Downstream customers entered the market to replenish stock, auctions repeatedly closed at premiums, and transactions were acceptable. Downstream gasoline barge deals were moderate, with September delivery volumes expected to be roughly on par with August, supporting market consumption. Later, the possibility of geopolitical easing emerged once again, crude oil futures fell intraday, and auction premiums disappeared. Ultimately, the average price closed higher, with an overall acceptable transaction pace.
Industrial pyrolysis C9 supply and demand are expected to remain broadly balanced next period, with prices holding firm. Key points to watch:
Overall, pyrolysis C9 is expected to trade in a range of 5,500-5,700 yuan/ton next week.
For more weekly market analysis, please refer to the Industrial Pyrolysis C9 Weekly Report from Chempricehub Intelligence.
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