I. Price Trend
According to the Commodity Market Analysis System of Business Society, the market price of pure benzene in Shandong region declined this month. The price on January 1 was 5,268.67 RMB/ton; on January 29, the price was 6,070 RMB/ton, representing an increase of 15.21% compared to the beginning of the month.

II. Market Analysis
Pure Benzene: Today, domestic pure benzene market prices rose. International crude oil futures increased, and the price of pure benzene in the international market also rose, boosting confidence in the domestic pure benzene market. Buyers were active, driving further price increases for pure benzene. In Shandong, local refineries were encouraged by the rise in oil prices, leading to significant price hikes in their offers. Sinopec’s refineries in East China and South China maintained stable pure benzene prices at 6,000 RMB/ton, effective January 28. It is expected that the pure benzene market will remain strong in the short term. This month, Sinopec raised pure benzene prices by 700 RMB to 6,000 RMB/ton.

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III. Future Outlook
Crude Oil Futures: On January 28, international crude oil futures rose. The settlement price for the March contract of U.S. WTI crude oil futures was $63.21 per barrel, an increase of $0.83 or 1.2%. The settlement price for the April contract of Brent crude oil futures was $67.37 per barrel, an increase of $0.78 or 1.2%.

International Pure Benzene: On January 28, FOB Korea rose by $11 to $761/ton, and CFR China increased by $12 to $763/ton. FOB Rotterdam fell by $1 to $916/ton, while FOB USG remained stable at 284 cents/gallon.

Comprehensive Forecast: In the short term, the pure benzene market is expected to remain strong, with attention on cost and demand factors. Continued monitoring of crude oil and international market trends, as well as changes in pure benzene and downstream plant operations and demand, will be essential to assess their impact on pure benzene prices.