I. Price Trends

According to the SunSirs Commodity Market Analysis System, benzene market prices saw a slight decline last week. Benzene prices were 5,975.33 RMB/ton on Monday and 5,945.33 RMB/ton on Friday, representing a 0.5% decrease for the week.

II. Market Analysis

Benzene: Benzene market prices in Shandong Province saw a slight decline last week. On September 4th, Sinopec's East China and South China refineries lowered benzene prices by 100 RMB to 5,900 RMB/ton. International crude oil futures closed lower, impacting confidence in the benzene market. Shandong refineries offered discounts to boost downstream demand, resulting in healthy trading on the exchange.

III. Market Forecast

Crude Oil Futures: On September 4th, international crude oil futures closed lower. The October contract of US WTI crude oil futures settled at $63.48 per barrel, down $0.49, or 0.8%. Brent crude oil futures for November delivery settled at $66.99 per barrel, down $0.61, or 0.9%.

Foreign benzene prices: On September 4th, FOB Korea prices fell by $5 to $713 per ton, and CFR China prices fell by $6 to $728 per ton. FOB Rotterdam prices fell by $12 to $642 per ton, while FOB US Gulf prices rose by $1 to 252 cents per gallon.

Overall forecast: The benzene market will fluctuate slightly in the short term, with cautious trading recommended. Wait and see what news is coming in terms of costs and demand. Continue to monitor the impact of crude oil and foreign market trends, benzene prices, downstream plant developments, and demand changes on benzene prices.

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