SunSirs: Summary of the Trend of Benzene in January (January 1-23, 2025)

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of benzene has risen this month and has been continuously increasing since the beginning of the month. On January 1st, the price was 7,234.67 RMB/ton; On January 23rd, the price was 7,543 RMB/ton, an increase of 4.26% from the beginning of the month.

Analysis review

Benzene: The price of benzene in the domestic market increased on January 23rd. As the Spring Festival holiday approaching, the Shandong region was actively stocking up, with a good mood for receiving goods on site and a high volume of transactions. In addition, due to the low inventory of most refineries in Shandong, local refineries have reported an increase in offers. The follow-up of buying in the East China region was still acceptable, and the market was mainly stable. Styrene futures rose, and the overnight rise of benzene boosted confidence in the benzene market. Overall, the confidence in the benzene market was good.

This month, the price of benzene from Sinopec has increased by 150 RMB/ton to 7,500 RMB/ton.

Market outlook

Crude oil futures: On January 22nd, international crude oil futures closed down. The settlement price of the main contract for WTI crude oil futures in the United States was 75.44 US dollars per barrel, a decrease of 0.39 US dollars per barrel or 0.5%. The settlement price of the main Brent crude oil futures contract was 79.00 US dollars per barrel, a decrease of 0.29 US dollars per barrel or 0.4%.

Benzene trading: On January 22nd, FOB Korea remained stable at 902 US dollars/ton, CFR China rose by 3 US dollars/ton to 917 US dollars/ton, FOB Rotterdam rose by 2 US dollars/ton to 891 US dollars/ton, and FOB USG was 303 US cents/gallon.

Comprehensive forecast: In the short term, the benzene market is expected to consolidate and operate within a certain range, with a wait-and-see attitude towards cost and demand news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in benzene and downstream equipment dynamics and demand on the price of benzene.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.