供需差收窄缓慢！纯苯期货震荡偏强，供应宽松格局能打破吗？

Core Viewpoint - The weekly market analysis report from Ruida Futures Research Institute indicates a strong fluctuation in the price of pure benzene, with a slight increase in domestic supply and a general recovery in demand for downstream products [1][2]. Supply Analysis - The operating rate of domestic petroleum benzene facilities is reported at 74.89%, a slight decrease of 0.05 percentage points from the previous week [1]. - The operating rate for hydrogenated benzene has increased by 2.94 percentage points to 59.83%, contributing to a narrow rise in overall domestic pure benzene production [1]. Demand Analysis - There is a general recovery in demand, with downstream product operating rates showing increases. The operating rate for styrene has risen by 1.57 percentage points to 70.7%, while the operating rate for caprolactam has increased by 4.84 percentage points to 74.04% [1]. - The operating rates for phenol, aniline, and adipic acid have also seen increases of 3.22, 1.63, and 4 percentage points respectively. The weighted operating rate for pure benzene's downstream products has risen by 2.59 percentage points to 71.07% [1]. Inventory and Profit Analysis - Due to delayed imports arriving at ports, the inventory of pure benzene at East China ports has increased by 5% to a total of 273,000 tons, which is relatively high for this time of year [1]. - The production profit for petroleum benzene has recovered by 38 yuan/ton, reaching 201 yuan/ton [1]. Future Market Outlook - The report anticipates a slight increase in domestic supply next week, with a 210,000-ton annual capacity petroleum benzene facility in Northeast China planning to restart, along with hydrogenated benzene facilities in Northwest and Southwest China [2]. - Downstream demand is expected to remain stable for styrene, while the caprolactam industry continues its "production reduction to maintain prices" strategy, with some facilities planning to resume operations [2]. - Operating rates for phenol, aniline, and adipic acid are projected to increase [2].