Last week, the pure benzene market experienced a weak consolidation, with slight fluctuations in transaction prices in the East China market. Port inventories continued to decline over the past week, but with arrivals concentrated this week, an accumulation of inventories is expected to commence.
Weak demand in Europe and the United States weighed on the domestic market. Coupled with diminished demand for domestic styrene, caprolactam, and aniline, these factors bearishly impact the market outlook. Geopolitical factors suggest that crude oil prices are likely to remain on an upward trend in the short term. Taken together, after reaching a low base, pure benzene has a high possibility of increasing in price this week, supported by crude oil prices.
