Last week, domestic benzene production capacity increased slightly, accompanied by a reduction in incoming shipments, resulting in a decline in port inventories. Furthermore, shutdowns for maintenance at some downstream facilities influenced market sentiment. With the assistance of fluctuations in crude oil prices, pure benzene prices experienced a significant drop. At the lower price levels, downstream buyers concentrated their purchases, providing support for a slight rebound in the market. Currently, overseas demand remains sluggish while supply is abundant, and macroeconomic factors are negative for crude oil.
It is anticipated that pure benzene prices will undergo minor consolidation this week, with a tendency towards weakness. Key attention should be paid to the situation in the Middle East and the operating rates of downstream industries.
