Prompt

1. Daily Summary

① Sinopec East China reduced its listed price for pure benzene by 300 RMB, now executing at 10,000 RMB/ton.

② Today’s non-long-term contract transactions for pure benzene in Shandong totaled approximately 900 tons. Self-pickup prices ranged from 9,800 to 9,853 RMB/ton, with an average of 9,826 RMB/ton, a decrease of 250 RMB/ton compared to the previous business day.

③ Spot negotiations for pure benzene in East China were conducted between 9,700 and 9,800 RMB/ton today, with an average of 9,750 RMB/ton, down 315 RMB from the previous business day.

④ On November 2, total commercial inventory of pure benzene at Jiangsu ports (sample basis) stood at 32,000 tons, an increase of 5,000 tons from the previous period's 27,000 tons.

2. Spot Market Overview

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

Taking the Shandong region as a benchmark, prices in Lubei remained stable today, while prices in Southwest Shandong declined. New pricing from major production areas is yet to be finalized; local refineries dropped to 9,800–9,850 RMB/ton. Inventory zones showed a clear downward trend. In the afternoon, major refinery listed prices fell by 300 RMB. Local refineries in main production areas followed suit with price cuts, but transaction volumes remained poor. The market awaits guidance tomorrow. Reference delivered prices for hydrogenated benzene in Jiangsu are 9,950–10,000 RMB/ton.

3. Production Dynamics

On October 28, the operating rate for hydrogenated benzene decreased by 1.06 percentage points to 59.84%. Weekly output was 79,400 tons, a week-on-week reduction of 1,400 tons. This week, the spread between crude benzene and hydrogenated benzene widened, increasing profits for Shandong hydrogenated benzene producers, which closed at 570 RMB/ton.

4. Price Forecast

At the start of the week, the domestic hydrogenated benzene market trended weakly downwards. Port inventories of pure benzene in East China accumulated, compounded by falling crude oil prices at the opening, which pressured pure benzene futures to decline. Most hydrogenated benzene plants adopted a wait-and-see attitude and halted shipments, with only sporadic factories lowering their quotes. Attention turns to tomorrow's US midterm elections, focusing on the results and the subsequent impact of Middle Eastern geopolitical situations on crude oil prices.

5. Related Products Status

Pure Benzene Market: Affected by falling crude oil prices and weak weekend trading, local refineries generally lowered their opening prices significantly today. However, sales remained difficult, with only a small volume of low-price transactions occurring intraday.

6. Data Calendar

Table 2: Domestic Hydrogenated Benzene Data List (Unit: RMB/ton, 10,000 tons)