I. Focus Points
Overseas benzene: FOB Korea rose by 26 to USD 1,173/mt, and CFR China rose by 27 to USD 1,199/mt. FOB Rotterdam rose by 15 to USD 1,226/mt, while FOB USG fell by 2 to 474 cents/gal.
Core logic: There are still no signs of easing in the U.S.-Iran conflict. Combined with the Houthis intensifying attacks on Saudi oil facilities, supply risks have escalated. ICE Brent crude futures for the November contract rose by USD 3.29 to USD 101.21/bbl, up 3.36% day-on-day.
| Region | Sep 9 | Sep 8 | Change Rate |
|---|---|---|---|
| FOB Korea | 1173 | 1147 | 2.27% |
| CFR China | 1199 | 1172 | 2.30% |
| East China market | 9440 | 9100 | 3.74% |
| Shandong market | 9294 | 8877 | 4.70% |
| Remarks: | |||
| 1. FOB Korea and CFR China benzene: USD/mt; domestic benzene: RMB/mt. | |||
| 2. Benzene prices use the mainstream market closing average. | |||
| 3. The RMB prices in the above table are cash, tax-inclusive, self-pickup prices. | |||
| 4. The change rate is the day-on-day change rate. |
II. Market Outlook
Yesterday, firm crude oil and price increases by major producers boosted market confidence, and some supply sources controlled volumes and held back from selling. In the night session, benzene continued to rally. It is expected to open higher and move up this morning.
| Data Item | Release Date | Previous Data | Expected Trend for This Period |
|---|---|---|---|
| Benzene East China port inventory | Monday 16:00 PM | 36,000 mt | ↗ |
| Benzene weekly capacity utilization rate | Thursday 18:00 PM | 69.63% | ↗ |
| Benzene weekly profit | Thursday 18:00 PM | 1,358 RMB/mt | ↗ |
| 1. ↓↑ are regarded as indicating large fluctuations, highlighting data dimensions with fluctuations exceeding 3%. | |||
| 2. ↗ ↘ are regarded as indicating narrow fluctuations, highlighting data with fluctuations within 0–3%. |
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