This Week's Benzene Market Prices Rise in China (4.13-4.17)

April 17th News

I. Price Trends

According to the commodity market analysis system, the price of pure benzene in the Shandong region of China increased this week. The price of pure benzene was 8,436.67 CNY per ton on Monday and 8,626.67 CNY per ton on Friday, with a weekly increase of 2.25%.

II. Market Analysis

Pure benzene: This week, the market price of pure benzene in Shandong region has increased. Yesterday, international crude oil futures closed higher, and the market confidence for pure benzene is decent. Today, local refineries in Shandong have mostly raised their prices slightly, while the pure benzene market in East China remains weak but stable. Caution is still needed regarding the fluctuations in the macro market, and more attention should be paid to the development of the situation in the Middle East.

Downstream sector

III. Future Market Forecast

Crude Oil Futures: On April 16, international crude oil futures closed higher. The settlement price for the May contract of U.S. WTI crude oil futures was $94.69 per barrel, up $3.40, or 3.7%. The settlement price for the June contract of Brent crude oil futures was $99.39 per barrel, up $4.46, or 4.7%.

Foreign market benzene: On April 16, FOB Korea fell by $17 to $1,142 per ton, and CFR China dropped by $15 to $1,133 per ton. FOB Rotterdam remained stable at $1,189 per ton, while FOB USG declined by 4 cents to 475 cents per gallon.

Overall forecast: In the short term, the pure benzene market in China will experience a strong and fluctuating operation, with cautious trading. Market participants are observing news related to cost and demand. Continued attention should be paid to the trends of 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.