This Week's Pure Benzene Market Prices Slightly Increased in China (9.8-9.12)

September 12, News

I. Price Trends

According to the commodity market analysis system, the pure benzene market price in Shandong region of China this week first decreased and then increased, with a slight overall upward adjustment. The price of pure benzene was 5945.33 CNY/ton on Monday and 5952 CNY/ton on Friday, with a weekly price increase of 0.11%.

2. Market Analysis

Pure benzene: Today, the market transactions in Shandong region have improved, and market prices have slightly increased. The performance of pure benzene in East China is average, with market prices showing a slight decline. Currently, market participants are cautious, and downstream buyers still have procurement needs. Holders are optimistic about the near-term prices and are closely watching macroeconomic news.

Downstream aspects

III. Market Forecast

Crude Oil Futures: On September 11, international crude oil futures closed lower. The October contract for U.S. WTI crude oil settled at $62.37 per barrel, down $1.30, or 2.0%. Meanwhile, the November contract for Brent crude oil finished at $66.37 per barrel, declining by $1.12, or 1.7%.

Foreign market benzene: On September 11, FOB Korea remained steady at $717 per ton, while CFR China rose by $3 to $738 per ton. FOB Rotterdam stayed unchanged at $666 per ton, and FOB U.S. Gulf prices were stable at 261 cents per gallon.

Overall forecast: In the short term, the pure benzene market in China will experience minor fluctuations, with cautious trading. Market participants will be watching for news on cost and demand factors. Continued attention will be given 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, all of which will impact the price of pure benzene.