This Week's Pure Benzene Market Prices Show Slight Fluctuations (Nov. 3–Nov. 8)

November 07, News

I. Price Trends

According to the commodity market analysis system, this week, the pure benzene market prices in Shandong region of China showed a slight fluctuation. On Monday, the price of pure benzene was 5212 CNY/ton, and on Friday, it was 5202 CNY/ton, with a weekly price decrease of 0.19%.

2. Market Analysis

Pure benzene: This week, Sinopec's East China and South China refineries have reduced the price of pure benzene by 150 CNY/ton, setting it at 5,300 CNY/ton. Today, the market price of pure benzene is mainly stable but weak. Shandong's local refineries have had poor sales for two consecutive days, leading to a decrease in their quotations. Overall, the consumption end of pure benzene is showing weakness, and the trading atmosphere in the market is average.

Downstream side

III. Market Forecast

Crude Oil Futures: On November 6, international crude oil futures closed lower. The December contract for U.S. WTI crude oil settled at $59.43 per barrel, down $0.17, or 0.3%. Meanwhile, the January contract for Brent crude oil finished at $63.38 per barrel, declining by $0.14, or 0.2%.

Foreign market pure benzene: On November 6, the FOB Korea price dropped by $4 to $646 per ton, while the CFR China rate fell by $3 to $664 per ton. Meanwhile, the FOB Rotterdam price rose by $1 to $675 per ton, and the FOB U.S. Gulf rate increased by 1 cent to 246 cents per gallon.

Overall outlook: Short-term benzene prices are expected to fluctuate slightly, with traders adopting a cautious approach. Market participants are closely monitoring developments on the cost and demand fronts. Additionally, ongoing attention will be paid to crude oil trends, global market dynamics, as well as shifts in benzene and downstream facility operations and demand patterns—factors that could significantly influence benzene pricing.