I. Key Focus Points
International benzene: FOB Korea rose by 39 to USD 1,212/mt, and CFR China rose by 40 to USD 1,239/mt. FOB Rotterdam held steady at USD 1,226/mt, while FOB USG rose by 22 to 496 cents/gal.
Core logic: There are no signs of de-escalation in the U.S.-Iran conflict, and the Houthi armed forces continue to pressure Saudi Arabia. Supply risks keep increasing. ICE Brent crude futures for the 11 contract rose by 6.42 to USD 107.63/bbl, up 6.34% MoM.
| Region | September 10 | September 9 | Change Rate |
|---|---|---|---|
| FOB Korea | 1212 | 1173 | 3.32% |
| CFR China | 1239 | 1199 | 3.34% |
| East China Market | 9880 | 9440 | 4.66% |
| Shandong Market | 9686 | 9294 | 4.22% |
| Remarks: | |||
| 1. FOB Korea and CFR China benzene: USD/mt; domestic benzene: RMB/mt. | |||
| 2. Benzene prices are based on the average closing price of mainstream markets. | |||
| 3. The RMB prices in the table above are all spot cash tax-inclusive ex-works prices. | |||
| 4. The change rate is the MoM change rate. |
II. Market Outlook
Yesterday, firm crude oil and upward pricing by major producers continued to drive benzene prices higher in both regions. As the risk of rapid price increases rises, the market is expected to mostly consolidate at high levels and adopt a wait-and-see stance today.
| Data Item | Release Date | Previous Data | Expected Trend for This Period |
|---|---|---|---|
| Benzene East China port inventory | Monday 16:00 PM | 36,000 mt | ↗ |
| Benzene weekly capacity utilization rate | Thursday 18:00 PM | 70.58% | ↗ |
| Benzene weekly profit | Thursday 18:00 PM | RMB 1,692/mt | ↗ |
| 1. ↓↑ is regarded as a large fluctuation, highlighting data dimensions with a change of more than 3%. | |||
| 2. ↗ ↘ is regarded as a narrow fluctuation, highlighting data with a change within 0-3%. |
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