SunSirs: The Market Price of Benzene Rose Slightly Last Week (September 8-12)

Price trend

According to the SunSirs Commodity Market Analysis System, benzene prices in Shandong Province initially fell before rising last week, with an overall slight increase. Benzene prices were at 5,945.33 RMB/ton on Monday and 5,952 RMB/ton on Friday, a weekly increase of 0.11%.

Analysis review

Benzene: Market activity in Shandong improved on September 12, with prices rising slightly. Benzene performance in East China was average, with prices declining slightly. As of September 12, market refining and delivery activity was cautious, and downstream still had purchasing demand. Holders were bullish on near-term futures and were generally cautious about macroeconomic news developments.

Market outlook

Crude oil futures: On September 11, international crude oil futures closed lower. The October contract for WTI crude oil futures settled at $62.37 per barrel, down $1.30, or 2.0%. The November contract for Brent crude oil futures settled at $66.37 per barrel, down $1.12, or 1.7%.

Benzene overseas market: On September 11, FOB Korea prices remained stable at $717/ton, while CFR China prices rose by $3 to $738/ton. FOB Rotterdam prices remained stable at $666/ton, while FOB US Gulf prices remained stable at 261 cents/gal.

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

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