This Week's Pure Benzene Market Prices First Rose Then Fell in China (9.15-9.19)

September 19, News

I. Price Trends

According to the commodity market analysis system, this week in Shandong region, the market price of pure benzene first rose and then fell. The price increased from the beginning of the week until Thursday, and then decreased on Friday. Overall, there was a slight increase in price. On Monday, the price of pure benzene was 5,998.67 CNY per ton, and by Friday, it had risen to 6,025.33 CNY per ton, with a weekly price increase of 0.44%.

2. Market Analysis

Pure benzene: Today, the market price in Shandong region of China has weakened and fallen. Yesterday, crude oil prices dropped, and the futures market continued to weaken, leading to unstable confidence in the market. The bearish sentiment has intensified, and the willingness of refineries and traders to sell has increased, causing the quotation center to shift downward. In the short term, prices may continue to adjust in a weak trend.

Downstream sector

III. Market Forecast

Crude Oil Futures: International crude oil futures closed lower on September 18. The settlement price for the U.S. WTI crude oil November contract was $63.26 per barrel, down $0.44, or 0.7%. Meanwhile, the settlement price for the Brent crude oil December contract came in at $66.92 per barrel, falling by $0.54, or 0.8%.

Foreign market benzene: On September 18, FOB Korea fell by $3 to $719 per ton, while CFR China dropped by $4 to $738 per ton. Meanwhile, FOB Rotterdam rose by $1 to $663 per ton, and FOB U.S. Gulf increased by 1 cent to 253 cents per gallon.

Overall expectations suggest that prices may continue their weak adjustment trend in the short term, prompting cautious trading. Keep an eye on developments in cost factors and demand-side news. Additionally, monitor crude oil markets, global price movements, as well as the status of pure benzene and downstream facilities, along with any shifts in demand—these all could significantly influence pure benzene pricing.