Hydrogenated benzene pulls back from highs (September 11, 2026)

1. Today's Highlights

• Sinopec's East China benzene posted price is stable, currently at RMB 9,900/mt.
• Today, Shandong benzene transactions outside long-term contracts totaled about 1,600 mt. The ex-works (self-pickup) price was RMB 9,753–9,770/mt, averaging RMB 9,761/mt, up RMB 75/mt from the previous working day.
• Today, East China benzene spot discussions were at RMB 9,560–9,600/mt, averaging RMB 9,580/mt, down RMB 300/mt from the previous working day.
• On September 7, Jiangsu benzene port sample commercial inventory totaled 36,000 mt, down 9,000 mt from 45,000 mt in the previous period.

2. Spot Market Overview

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

With Shandong as the benchmark, Lubei prices were stable today, while Luxinan prices pulled back from highs. Main production areas quoted RMB 9,550–9,600/mt, while local refiners hovered around RMB 9,750–9,770/mt. In the afternoon, under pressure from bearish news, tank farm prices retreated from highs. Afternoon trading for local refiners and hydrogenated benzene in main production areas slowed, with buyers mostly on the sidelines and waiting for next week's news for direction. Jiangsu hydrogenated benzene delivered prices were referenced at RMB 9,700–9,750/mt.

3. Production Dynamics

On September 10, the hydrogenated benzene operating rate declined by 6.32 percentage points to 57.60%. Weekly hydrogenated benzene output was 76,400 mt, down 8,400 mt week on week. This week, Shandong hydrogenated benzene producer profit decreased to -RMB 56/mt.

4. Price Forecast

Today, sentiment in the domestic hydrogenated benzene market weakened, with prices pulling back from highs. In the morning, crude oil extended last night's relatively strong upward trend, keeping domestic hydrogenated benzene spot prices at high levels. In the afternoon, crude oil futures plunged, commodity futures fell sharply across the board, market sentiment weakened, profit-taking selling emerged, and East China benzene and hydrogenated benzene spot prices came under pressure and moved lower. Watch the latest Middle East situation over the weekend; hydrogenated benzene is likely to soften from high levels in the short term.

5. Related Products

Benzene market: Because of good transactions yesterday and strong crude in the morning, local refiners continued to push up starting prices, and morning trading was acceptable. In the afternoon, crude oil reversed sharply lower, buying interest in the market faded, and most deals were concluded at the floor price.

6. Data Calendar

Table 2: Domestic Hydrogenated Benzene Data Summary (Unit: RMB/mt, 10,000 mt)