As the price of raw material Benzene drops and new production capacity is released in the phenol-ketone unit, downstream companies mostly purchase on demand and the price of acetone is weak. However, port inventories continue to decline and are relatively low.
Recently, the leadership and colleagues from the Batong Chemical Group embarked on a significant business visit to Uzbekistan.
Last week, the fundamentals of Benzene did not change much. The market rose due to the crude oil price, but the room for growth was limited due to the impact of downstream demand. The price of petroleum benzene in Shandong refineries rose along with the East China region, and the arbitrage window between the north and south regions was closed.
Last week, the market for glacial acetic acid remained sluggish, with little variation in prices across regions. Regional digestion was evident, gradually pushing prices to their lows this year. Downstream buyers were relatively cautious in accepting shipments.
Last week, tensions in the Middle East remained high, leading to continued significant volatility in crude oil prices. Shipments of toluene and xylene arrived at ports towards the end of the month, increasing port inventories. Based on costs, the market conditions remained stable. In Shandong, refinery market prices surged but subsequently fell back, with refineries mainly fulfilling earlier orders, and overall market transactions were moderate.
Last week, domestic petroleum benzene production capacity increased, offsetting the reduction in hydrogenated benzene production, and the production capacity increased slightly. At the same time, the imported goods were concentrated at the port, and the port inventory continued to increase.
Leave your questions and we will get in touch with you as soon as possible
