Last week, the price of benzene first declined and then rose. As domestic production capacity continued to increase, overseas supply was ample, and with the concentrated arrival of imported goods at ports, port inventories reached a relatively high level at this stage, resulting in a significant decline in the market. However, downstream purchasers became more active in buying at low prices, and terminal factories in the northern market raised their receiving prices, driving a low – level rebound in the market.
This week, some styrene and caprolactam plants have restarted production. Coupled with the impact of the pre – festival stock – piling mentality, this has formed favorable support for benzene. However, the strength of the US dollar is suppressing the upward potential of crude oil, and the fact that styrene is entering the off – season may drag down benzene. It is expected that, under the circumstances of strong supply and demand, the fluctuation range of the domestic market will narrow, and attention should be paid to port inventory levels and changes in crude oil prices.
