Domestic benzene prices remain resilient at high levels, with stable import shipments resulting in a continuous increase in port inventories. As the phased replenishment by northern end-user factories has concluded, market transaction prices have fallen sharply. Meanwhile, as the pre-holiday stockpiling period approaches, the decline in the East China market is limited, closing the arbitrage window for the north. Coupled with the decrease in operating rates of downstream caprolactam, holders’ willingness to sell has intensified.
It is expected that port inventories will continue to accumulate next week, and the benzene market will operate on a weaker footing. Attention should be paid to the pre-holiday stockpiling phase and changes in port inventories.
