Last week, domestic benzene prices in China tumbled sharply due to drag from external market declines. Despite ongoing destocking at ports, sluggish global demand has kept China as a primary export destination.
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With import volumes remaining high during March-April and multiple downstream plants scheduled for maintenance shutdowns—concentrated mainly in northern markets—demand is expected to weaken further, potentially reigniting a south-high, north-low price disparity. Considering supply-demand dynamics, benzene prices are projected to fluctuate in tandem with crude oil this week. Close attention should be paid to Middle East geopolitical tensions and changes in downstream industry operating rates.
