Last week, domestic production capacity saw a slight increase as the market entered the pre-holiday stockpiling period. Port inventories declined somewhat, but remained high overall. Due to sluggish overseas demand, incoming shipments are expected to be relatively concentrated in the near future, leading to persistent bearish sentiment in the market for the longer term. This week, the pre-holiday stockpiling period has entered its final stage, and port inventories are anticipated to continue decreasing. Over the weekend, oil blending materials experienced a sharp increase, providing favorable support for benzene.
Consequently, some petroleum benzene factories have significantly raised their price quotes. This week, focus should be on the extent to which end-user factories accept these higher prices and any changes in crude oil prices.
