Benzene Industrial Chain Generally Rose in Early Oct
The benzene market had been weak since mid-September, falling from RMB 9,000/mt to RMB 7,630/mt by end September, a decline of RMB 1,370/mt or 15.22%. While during the National Day holiday (Oct 1-7), benzene prices showed a strong rebound driven by well-performed crude oil market, soaring by RMB 1,170/mt to RMB 8,800/mt, with an increase of 15.33%.
In addition to styrene, other downstream products of benzene both enjoy moderate profits, which is a key factor supporting the current benzene price.
As for downstream operating rate, because the downstream distribution area of pure benzene is relatively scattered, the load cut in some plants recently has no great impact on the whole industry.
The port inventory of benzene is still at a low level according to current situation, and the unloading of imported cargo is slow, leading to limited supply supplement.
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