Last week, the operating rate of pure benzene declined slightly, mainly due to the reduction in the production load of petroleum benzene capacity. Without new support, the price of pure benzene in East China fluctuated slightly and consolidated. However, the losses of downstream styrene non-integrated and phenol-ketone units have intensified. Some factories have the expectation of suspending production and reducing the production load. In addition, with the continuous release of news about the easing of geopolitical tensions, there is room for a decline in crude oil prices, which weakens the support for pure benzene.
Although there is a large divergence between bulls and bears in the market currently, it still cannot prevent the weakening trend driven by crude oil. This week, the price of pure benzene is expected to fluctuate weakly and consolidate. It is necessary to pay close attention to the changes in crude oil prices and the operating rates of downstream industries.
