The market continues to decline.

1. Today's Summary

① Sinopec East China pure benzene posted price remained stable at 10,600 RMB/ton.

② Today’s Shandong pure benzene transactions totaled approximately 2,500 tons. Ex-works prices ranged from 10,090 to 10,203 RMB/ton, with an average of 10,146 RMB/ton, down 57 RMB/ton from the previous business day.

③ Today’s spot negotiations for East China pure benzene were conducted in the range of 10,450–10,550 RMB/ton, averaging 10,500 RMB/ton, up 35 RMB/ton from the previous business day.

④ As of October 26, total commercial inventory of pure benzene at Jiangsu ports (sample basis) stood at 27,000 tons, a decrease of 17,000 tons from the previous period’s 44,000 tons.

2. Spot Market Overview

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

Based on the Shandong region as a benchmark, prices in North Shandong remained stable today, while those in Southwest Shandong declined. Prices in major production areas fell to the range of 10,100–10,200 RMB/ton. Local refinery prices dropped to 10,090–10,200 RMB/ton. Although inventory trends showed some improvement, weak end-user demand pressured both local refineries and hydrogenated benzene producers to continue lowering prices. This has reopened the delivery window to Jiangsu, where delivered hydrogenated benzene prices are now referenced at 10,200–10,300 RMB/ton.

3. Production Dynamics

On October 28, the operating rate for hydrogenated benzene decreased by 1.06 percentage points to 59.84%. Weekly production of hydrogenated benzene was 79,400 tons, a week-on-week decrease of 1,400 tons. The spread between crude benzene and hydrogenated benzene widened this week, increasing profits for Shandong hydrogenated benzene enterprises to 570 RMB/ton.

4. Price Forecast

Today, the domestic hydrogenated benzene market maintained a downward trend. Although rising crude oil prices pushed pure benzene futures into positive territory, downstream demand lacked sustained momentum to support higher prices. Declining procurement prices driven by essential demand weighed on northern pure benzene and hydrogenated benzene prices in major production areas, causing them to fall from recent highs. In the short term, high crude oil prices will continue to provide bottom-line support for hydrogenated benzene.

5. Related Product Updates

Pure Benzene Market: Due to several consecutive days of sluggish sales and the closure of arbitrage opportunities to East China, local refineries continued to lower opening prices today. However, firm crude oil prices supported premium transactions at the lower end of the price range.

6. Data Calendar

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