SunSirs: On April 9th, the Domestic Benzene Market Prices Continued to Decline

Product Name: Benzene 

Latest price: On April 9th, the average market price was 6,184 RMB/ton, a 5.55% decrease from the previous trading day.

Analysis review

The price of benzene in the domestic market has fallen. Affected by the sharp drop in international oil prices and the downward trend of downstream styrene futures, the confidence in the benzene market was insufficient. Sinopec's refineries in East and South China have lowered the price of benzene by 550 RMB/ton to 6,200 RMB/ton, effective from April 8th. Shandong's local refining enterprises continued to lower their quotations today, with active shipments from holders and a slightly average downstream demand for gas.

Market outlook

It is expected that in the short term, the market will be filled with bearish sentiment based on the subsequent impact of current US tariff policies. Further attention should be paid to the direction of macro policies in the future.

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