Hydrogenated benzene continues to surge, hitting a historic high.

1. Daily Summary

① Sinopec East China raised its listed price for pure benzene by 400 RMB/ton, currently at 10,600 RMB/ton.

② Today’s non-contract spot transactions of pure benzene in Shandong totaled approximately 900 tons. Self-pickup prices ranged from 10,500 to 10,603 RMB/ton, with an average of 10,551 RMB/ton, up 145 RMB/ton from the previous business day.

③ Spot negotiations for pure benzene in East China were conducted at 10,600–10,800 RMB/ton today, averaging 10,700 RMB/ton, a rise of 50 RMB/ton from the previous business day.

④ On October 8, the total commercial inventory of pure benzene at Jiangsu ports (sample basis) stood at 53,000 tons, a decrease of 8,000 tons from the previous period’s 61,000 tons.

2. Spot Market Overview

Table 1: Domestic Hydrogenated Benzene Price Summary (Unit: RMB/ton)

Based on the Shandong region as a benchmark, prices in Northern and Southwestern Shandong rose today. Transactions in major production areas centered around 10,450–10,550 RMB/ton. Local refinery prices increased to 10,500–10,600 RMB/ton. In the afternoon, major refiners raised their listed prices by 400 RMB/ton, leading to higher quotes for local refineries and hydrogenated benzene producers in key regions. However, transactions at these elevated levels remained limited. The delivered price reference for hydrogenated benzene in Jiangsu was 10,600–10,700 RMB/ton.

3. Production Dynamics

On October 8, the operating rate for hydrogenated benzene decreased by 0.47 percentage points to 55.03%. Weekly production of hydrogenated benzene was 73,000 tons, down 6,000 tons week-on-week. Raw material crude benzene prices remained stable this week, while prices for hydrogenated benzene and by-products rose. Consequently, profits for hydrogenated benzene enterprises in Shandong increased, reaching 500 RMB/ton.

4. Price Forecast

Today, domestic hydrogenated benzene market prices saw a slight increase at high levels, hitting a historical peak. Although overnight crude oil prices surged significantly, futures rebounded initially but then retreated, resulting in intraday volatility and a gradual decline. Pure benzene and styrene futures fluctuated at high levels. The gains in pure benzene prices in Shandong and East China narrowed, prompting hydrogenated benzene plants to make minor price adjustments. Buyers remained cautious about chasing highs, leading to reduced trading volume. In the short term, hydrogenated benzene prices are expected to maintain their current high levels; attention should be paid to the latest market news for guidance.

5. Related Product Status

Pure Benzene Market: Bullish sentiment prevailed across the market. Since most local refineries had limited quantities available for external sale, offer prices continued to rise. Major refiners adjusted their listed prices upward during midday, but market enthusiasm for chasing higher prices was moderate. Only a few local refineries achieved premium transactions, and deals at the highest quoted prices were scarce.

6. Data Calendar

Table 2: Domestic Hydrogenated Benzene Data Overview (Unit: RMB/ton, 10,000 tons)