The price wave in benzene is rooted in reducing supply in China

2. Firming benzene price

In addition to the tight supply, recent firming benzene price trend has been a supporting factor as well. Benzene spot prices had touched a lowest rate in early Aug around 4,950yuan/mt and then rebounded to 5,430yuan/mt all the way long till end of the month. At mean time, Sinopec raised the contract nomination for benzene continuously, being a strong back force for CPL.
The price wave in benzene is rooted in reducing supply in China, given that South Korea cargoes have been exported to North America instead of China. The port inventory had reduced to 145kt, and based on this condition, domestic benzene prices soared up.