I. Key Focus Points
Mediators such as Qatar continue to push for US-Iran peace talks, combined with a partial recovery in Saudi crude oil supply, leading to a decline in international oil prices.
Yesterday, Shandong spot benzene (non-contract) transactions totaled approximately 2,400 tons. Self-pickup prices ranged from 9,903–9,973 RMB/ton, with an average price of 9,938 RMB/ton, up 27 RMB/ton from the previous business day.
Yesterday, East China spot benzene negotiations were conducted at 10,900–11,750 RMB/ton, with an average price of 11,325 RMB/ton, up 815 RMB/ton from the previous business day.
Sinopec raised its East China benzene posted price by 300 RMB yesterday; the current executed price is 10,200 RMB/ton.
As of September 28, total commercial inventory of Jiangsu port sample benzene stood at 61,000 tons, representing an increase of 17,000 tons from the previous period's inventory of 44,000 tons.
II. Price Table
Unit: USD/barrel, RMB/ton, USD/ton
| Product | Region/Category | Sep 29 | Sep 28 | Change | % Change |
|---|---|---|---|---|---|
| Crude Oil | Brent | 102.59 | 105.28 | -2.69 | -2.56% |
| Benzene | Sinopec Posted Price | 10200 | 9900 | 300 | 3.03% |
| CFR China | 1220 | 1208 | 12 | 0.99% | |
| FOB Korea | 1185 | 1177 | 8 | 0.68% | |
| Shandong | 9938 | 9911 | 27 | 0.27% | |
| East China | 11325 | 10510 | 815 | 7.75% | |
| Crude Benzene | Shandong | 8300 | 8300 | 0 | 0.00% |
| Shanxi | 7800 | 7800 | 0 | 0.00% | |
| Hebei Tangshan | 8050 | 8050 | 0 | 0.00% | |
| Hebei Hanxing | 8600 | 8600 | 0 | 0.00% | |
| Hydrogenated Benzene | Shandong | 9950 | 9875 | 75 | 0.76% |
| Hebei | 9900 | 9575 | 325 | 3.39% | |
| Shanxi | 9325 | 9325 | 0 | 0.00% | |
| East China | 10075 | 10050 | 25 | 0.25% | |
| Styrene | East China | 10700 | 10335 | 365 | 3.53% |
| Phenol | East China | 8875 | 8775 | 100 | 1.14% |
| Aniline | Shandong | 14600 | 14600 | 0 | 0.00% |
| Cyclohexanone | East China | 10850 | 10800 | 50 | 0.46% |
| Adipic Acid | East China | 9950 | 9900 | 50 | 0.51% |
| Caprolactam | East China | 13800 | 13800 | 0 | 0.00% |
Data Source: Chempricehub Information
III. Market Outlook
Yesterday, domestic hydrogenated benzene market prices continued to rise. The short squeeze sentiment in East China persisted towards the end of the month, resulting in significant basis and monthly spreads. Spot offers surged substantially, creating a large price gap between northern and southern benzene markets. Although spot prices for benzene and hydrogenated benzene in northern regions also increased, the magnitude was smaller than in East China. Overnight crude oil closing prices fell, cooling market sentiment. Additionally, with the National Day holiday approaching, trading activity in hydrogenated benzene gradually decreased, and prices may stabilize.
| Data Indicator | Release Time | Current Period Value | Next Period Trend Forecast |
|---|---|---|---|
| East China Port Benzene Inventory | Monday 11:00 AM | 61,000 tons | ↗ |
Note:
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