Supply and Demand - As of July 3, the utilization rate of benzene production capacity is at 78.14%, with a weekly output of 433,300 tons, an increase of 700 tons [2] - The commercial inventory of benzene at Jiangsu port is 174,000 tons, a decrease of 3,000 tons from the previous period, representing a 1.69% decline; however, it has increased by 144,000 tons compared to the same period last year, marking a 480% year-on-year increase [2] Market Outlook - Domestic facilities are undergoing planned maintenance, leading to a decrease in benzene load; however, overseas production is gradually increasing, contributing to an overall rise in Asian benzene load [4] - The overall supply-demand situation for benzene shows marginal improvement, but high absolute levels of inventory at ports and expectations of new production from Shandong Yulong and Hongrun limit price support [4] - The benchmark price for benzene futures contracts on July 8, 2025, is set at 5,900 yuan/ton for multiple contracts [4] - Trading strategies for benzene futures include a bearish outlook due to significant supply-demand pressures and expectations of a downward trend in crude oil prices [4]
纯苯：供需边际好转但高库存下近月驱动有限 上市首日月差反套对待
Jin Tou Wang·2025-07-09 02:08