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Market supply-demand tug-of-war; negotiations at a stalemate
Published on 2026-09-22
Today's Summary
① Sinopec has lowered the pure benzene prices at its East China, South China, and Central China refineries by 300 yuan/ton to 9,600 yuan/ton, effective September 18.
Sinopec’s 300 yuan/ton cut in pure benzene reflects weak downstream demand and high inventory pressure. With negotiations stalled, I expect low capacity utilization to persist, squeezing margins for midstream converters..
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