Price dynamics:

On October 9th, Sinopec Group North China region: Qilu Petrochemical quoted 8,000 RMB/ton, Shijiazhuang Refining and Chemical quoted 8,000 RMB/ton, and Tianjin Petrochemical quoted 8,000 RMB/ton;

East China region: Yangzi Petrochemical quoted 8,000 RMB/ton;

South China region: Hainan Refining and Chemical quoted 8,000 RMB/ton;

Central China region: Wuhan ethylene quoted 8,000 RMB/ton;

Others: Jingbo Petrochemical quoted 7,800 RMB/ton, HSBC Petrochemical quoted 8,000 RMB/ton, Weilian Chemical quoted 7,683 RMB/ton, Xinhai Petrochemical quoted 7,800 RMB/ton, and Hongrun Petrochemical quoted 8,000 RMB/ton.

Analysis review

On October 9th, the price of pure benzene at Jingbo Petrochemical increased by 50 RMB/ton, the price of pure benzene at Weilian Chemical decreased by 20 RMB/ton, and the price of pure benzene at Xinhai Petrochemical increased by 50 RMB/ton.

On October 8th, downstream customers in East China sought bargains to restock after the holiday, and the pace of market transactions was decent. However, due to the lack of reference for futures and crude oil factors, the market's wait-and-see sentiment intensified. Shandong Refinery had a strong intention to ship, and the offer continued to decline. After the price drop, the market actively copied low-priced sources of goods, and transactions rebounded.

Market outlook

It is expected that in the morning, East China pure benzene would be negotiated for consolidation around 7,850 RMB/ton. On October 9th, the domestic price of pure benzene would be between 7,683-8,000 RMB/ton.

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