Morning Market Update: Hydrogenated Benzene

I. Key Highlights

1. Houthi rebels continue to attack Saudi Arabia, and instability in the Middle East escalates supply risks, driving up international crude oil prices.
2. Yesterday, non-contract spot transactions for pure benzene in Shandong totaled approximately 1,100 tons. Ex-works prices ranged from RMB 10,300–10,403/ton, with an average of RMB 10,351/ton, down RMB 127/ton from the previous business day.
3. Yesterday, spot negotiations for pure benzene in East China were conducted at RMB 10,300–10,540/ton, with an average of RMB 10,420/ton, down RMB 280/ton from the previous business day.
4. Sinopec’s posted price for pure benzene in East China remained stable yesterday, currently executing at RMB 10,600/ton.
5. On October 12, total commercial inventory samples for pure benzene at Jiangsu ports stood at 50,000 tons, a drawdown of 3,000 tons from the previous period’s inventory of 53,000 tons.

II. Price Table

Unit: USD/barrel, RMB/ton, USD/ton

Data Source: Chempricehub Information

III. Market Outlook

Yesterday, the domestic hydrogenated benzene market pulled back from high levels. Impacted by the collective decline in crude oil and aromatics futures, domestic pure benzene futures and spot prices faced downward pressure, leading to lower hydrogenated benzene spot prices. Due to downstream buyers’ tendency to "buy on rising prices rather than falling prices," trading was primarily driven by rigid demand and opportunistic buying at low levels, resulting in moderate market turnover. Overnight crude oil closed higher, boosting market sentiment; therefore, hydrogenated benzene is expected to maintain its high level today.

Note:

1. ↓↑ indicates significant volatility, highlighting data dimensions with fluctuations exceeding 3%.
2. ↗↘ indicates narrow-range volatility, highlighting data dimensions with fluctuations within 0–3%.