East China Pure Benzene Surges Strongly, Supporting Continued Price Increases in Hydrogenated Benzene (September 25–30, 2026)

1. Key Market Focus for the Week

① Due to partial unit reductions and shutdowns, the weekly operating rate of hydrogenated benzene fell by 0.74% to 55.50%.

② The price spread between crude benzene and hydrogenated benzene widened this week, restoring profits for Shandong-based hydrogenated benzene producers to 140 yuan/ton.

③ Sinopec East China raised its posted price for pure benzene by 300 yuan this week, with the current executed price at 10,200 yuan/ton.

2. Weekly Market Analysis

Data Source: Chempricehub Information

The hydrogenated benzene market in Shandong continued its upward trend this week, with mainstream transaction prices shifting higher to a range of 9,700–9,950 yuan/ton. On the external front, mediators pushed for the resumption of US-Iran negotiations, and Saudi oil export volumes recovered, putting downward pressure on international crude oil prices during the week. However, this had limited impact on the domestic pure benzene and hydrogenated benzene markets. This was primarily due to low port inventories of pure benzene in East China, combined with strong short-squeeze sentiment at month-end. The basis for pure benzene widened to 2,300 yuan/ton, and the inter-month spread expanded to over 1,500 yuan/ton, with spot offers reaching a high of 11,850 yuan/ton. The price gap between northern and southern pure benzene widened to 1,900 yuan/ton. Nevertheless, affected by the approaching National Day holiday and reduced logistics capacity, the price increases for northern pure benzene and hydrogenated benzene were less pronounced than those in East China. Overall, regional divergence was evident this week, with East China outperforming the north.

3. Next Week's Market Forecast

Next week, port inventories of pure benzene in East China are expected to accumulate, and some idled hydrogenated benzene units plan to restart after the National Day holiday, leading to an increase in supply and a slight easing of the tight supply situation. However, core differences in the US-Iran negotiations remain difficult to bridge, as neither side is willing to make concessions. International crude oil prices are expected to have room for upside next week, providing bottom support for domestic pure benzene. Consequently, the domestic hydrogenated benzene market is projected to maintain high levels, with mainstream transaction prices referenced in the range of 9,300–10,000 yuan/ton.

For more detailed weekly market analysis, please refer to the Chempricehub Hydrogenated Benzene Weekly Report.