This week, the domestic pure benzene market price slightly fluctuated and decreased (9.1-9.5)

September 05, News

I. Price Trends

According to the commodity market analysis system, the domestic pure benzene market price showed a slight downward fluctuation this week. The price of pure benzene was 5,975.33 CNY per ton on Monday and 5,945.33 CNY per ton on Friday, with a weekly decline of 0.5%.

II. Market Analysis

Pure benzene: This week, the market price of pure benzene in the Shandong region of China experienced a slight downward fluctuation. On September 4th, Sinopec reduced the price of pure benzene in its East China and South China refineries by 100 yuan to 5,900 CNY per ton. The decline in international crude oil futures affected market confidence in pure benzene. Refineries in Shandong offered discounts to promote sales, which stimulated downstream purchases, and the trading volume within the market was satisfactory.

Downstream aspects

III. Market Forecast

Crude Oil Futures: On September 4, international crude oil futures closed lower. The October contract for U.S. WTI crude oil settled at $63.48 per barrel, down $0.49, or 0.8%. Meanwhile, the November contract for Brent crude oil finished at $66.99 per barrel, declining by $0.61, or 0.9%.

Foreign market pure benzene: On September 4, FOB Korea fell by $5 to $713 per ton, while CFR China dropped by $6 to $728 per ton. Meanwhile, FOB Rotterdam declined by $12 to $642 per ton, and FOB U.S. Gulf rose by $1 to 252 cents per gallon.

Comprehensive forecast: In the short term, the pure benzene market in China will experience minor fluctuations, with cautious trading. Market participants are watching for news on cost and demand factors. Continued attention should be paid to the trends in crude oil and foreign markets, as well as the operational status of pure benzene and downstream facilities, and changes in demand, which will impact the price of pure benzene.