Price trend

According to the commodity market analysis system of SunSirs, the price of benzene in Shandong Province fell this month. The price was 5,848.67 RMB/ton on October 1st; the price was 5,172 RMB/ton on October 31st, a decrease of 11.57% compared to the beginning of the month.

Market Analysis

Benzene: Domestic benzene market prices fluctuated within a limited range on October 31. Spot prices in East China remained stable, with short positions decreasing at the end of the month, resulting in a relatively stable market. Good sales in Shandong recently boosted market confidence, leading to slight price increases by local refineries. Sinopec's benzene prices at its East and South China refineries remained stable at 5,450 RMB/ton, effective October 21st. The benzene market is expected to remain relatively stable with some fluctuations in the short term, with actual transactions negotiated on a case-by-case basis.

This month, Sinopec lowered its price of benzene by 300 RMB/ton to 5,450 RMB/ton.

Market outlook

Crude oil futures: On October 30, international crude oil futures remained stable. The settlement price for the December contract of US WTI crude oil futures was $60.57 per barrel, up $0.09. The settlement price for the December contract of Brent crude oil futures was $65.00 per barrel, up $0.05.

International benzene market: On October 30, FOB Korea fell $4 to $654/ton, and CFR China fell $3 to $674/ton. FOB Rotterdam remained stable at $680/ton, and FOB US Gulf remained stable at 243 cents/gallon.

Overall, the benzene market is expected to remain relatively stable with fluctuations in the short term, with investors awaiting news on the cost and demand sides. Continued attention should be paid to the impact of crude oil and international market trends, benzene and downstream plant operations, and changes in demand on benzene prices.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.