Last week, buoyed by macroeconomic positive factors, market participation enthusiasm increased, driving a general uptick in commodity prices. Coupled with the lead taken by styrene at the beginning of the week, the price of pure benzene rebounded sharply. Downstream buyers were active in procuring the product, and factories faced no inventory pressure.
Currently, although the supply-demand fundamentals remain relatively weak, driven by multiple favorable factors, there is still room for pure benzene prices to rise further. It is essential to monitor the sustainability of the macroeconomic tailwinds and the impact of geopolitical developments on crude oil prices.
