As downstream demand increases, supply pressure rises in North China, leading to widespread price hikes. Arbitrage opportunities from East China to North China emerge. Although port inventories rise slightly, the increase in vehicle pickups curbs the magnitude of inventory growth.
Recently, styrene capacity has returned en masse, and demand will continue to rise. However, due to the strong correlation between styrene and pure benzene, negative impacts on styrene may concurrently drag down pure benzene prices. Under this dual influence, pure benzene prices remain high and consolidated. Recently, pure benzene prices have been resilient at high levels, and attention should be paid to changes in crude oil prices and downstream procurement timelines.
