Last week, benzene prices first declined and then rebounded. With the continuous increase in domestic production capacity and abundant overseas supply, along with the concentrated arrival of imported goods, port inventories reached a phased high, causing a significant decline in the market. Meanwhile, downstream buyers became more active in purchasing at lower prices, and terminal factories in the northern market raised their receiving prices, leading to a low - level rebound in the market.
This week, some styrene and caprolactam plants have resumed operation. Moreover, influenced by the sentiment of pre - holiday stockpiling, this provides favorable support for benzene. However, the strength of the US dollar is suppressing the upward potential of crude oil, and styrene entering its off - season may pull down benzene prices. Given the dual - sided strength of supply and demand, the fluctuation range of the domestic market is expected to narrow. Attention should be paid to port inventory levels and changes in crude oil prices.
