With the increase in downstream demand, supply pressure in North China has risen, resulting in widespread price hikes. Arbitrage windows have opened up from East China to North China. Although port inventories have risen slightly, the increase in vehicle pickups has suppressed the magnitude of inventory growth.
Recently, styrene capacities have returned in a concentrated manner, and demand will continue to rise. However, due to the strong correlation between styrene and pure benzene, negative impacts on styrene may simultaneously drag down pure benzene prices. Under this dual influence, pure benzene prices have remained high and stable. Recently, pure benzene prices have been resilient at high levels, and attention should be paid to changes in crude oil prices and downstream procurement timelines.
