Hydrogenated benzene maintains its upward trend

1. Daily Summary

① Sinopec East China raised its posted price for pure benzene by 200 yuan, now at 10,800 yuan/ton.

② Today, spot transactions of pure benzene in Shandong (non-long-term contract) totaled approximately 3,100 tons. Ex-works prices ranged from 10,503 to 10,573 yuan/ton, with an average of 10,538 yuan/ton, up 130 yuan/ton from the previous trading day.

③ Spot negotiations for pure benzene in East China settled between 10,750 and 10,850 yuan/ton, averaging 10,800 yuan/ton, up 70 yuan/ton from the previous trading day.

④ As of October 12, total commercial inventory of pure benzene at Jiangsu ports stood at 50,000 tons, a decrease of 3,000 tons from the previous period's inventory of 53,000 tons.

2. Spot Market Overview

Table 1: Domestic Hydrogenated Benzene Price Summary (Unit: Yuan/Ton)

Using Shandong as the baseline, prices in Northern Shandong remained stable today, while prices in Southwest Shandong increased. Quotes in major production areas reached 10,500 yuan/ton. Local refineries raised prices to 10,500–10,570 yuan/ton. In the afternoon, posted prices from major refineries were raised, leading to a stronger trend in storage terminals. Both local refinery hydrogenated benzene and general hydrogenated benzene followed this upward movement. Trading activity was moderate. The reference delivered price for hydrogenated benzene in Jiangsu was 10,600–10,700 yuan/ton.

3. Production Dynamics

On October 8, the operating rate for hydrogenated benzene decreased by 0.47 percentage points to 55.03%. Weekly output was 73,000 tons, a week-on-week decrease of 6,000 tons. This week, crude benzene feedstock prices remained stable, while prices for hydrogenated benzene and by-products rose. Profits for hydrogenated benzene enterprises in Shandong increased, settling at 500 yuan/ton.

4. Price Forecast

Today, the domestic hydrogenated benzene market maintained an upward trend. Futures and spot prices for pure benzene continued to climb. Major refineries raised their posted prices by 200 yuan, boosting market sentiment. Hydrogenated benzene plants collectively raised their quotes, and some traders and downstream users entered the market for procurement. Trading volume was moderate. In the short term, hydrogenated benzene prices are expected to remain at high levels; attention should be paid to future news developments for guidance.

5. Related Product Status

Pure Benzene Market: Crude oil prices maintained a firm trend today. Local refineries continued offering yesterday's high prices, with most deals concluded at floor prices before noon. After major refineries raised their posted prices in the afternoon, refineries achieved premiums, shifting the intraday negotiation center upwards.

6. Data Calendar

Table 2: Domestic Hydrogenated Benzene Data Overview (Unit: Yuan/Ton, 10,000 Tons)