Qi Huo Ri Bao·2026-02-01 00:01Core Viewpoint - The chemical market has experienced a significant rebound in pure benzene prices in January, driven by strong demand from the styrene industry and rising costs due to oil price increases [1][2]. Group 1: Price Movements - Sinopec raised the pure benzene listing price seven times from January 12 to January 30, totaling an increase of 850 yuan/ton, with the final price reaching 6150 yuan/ton, a rise of 16.04% [1]. - By January 30, the main futures price for pure benzene closed at 6237 yuan/ton, with a peak of 6434 yuan/ton during the month [1]. Group 2: Factors Driving Price Increase - The primary drivers of the price surge include the strong performance of styrene, which is a downstream product, and the rebound in oil prices due to geopolitical tensions [2]. - Increased exports of styrene and operational issues in several production facilities contributed to the rising prices of pure benzene [2]. Group 3: Market Dynamics - The price increase has not benefited all sectors equally; strong demand in the styrene and aniline markets contrasts with weaker sectors like caprolactam and phenol, which face pressure from soft terminal demand [3]. - Different end-use sectors exhibit varying capacities to absorb price increases, with niche markets like coatings and solvents experiencing more significant impacts due to high cost proportions [4]. Group 4: Future Outlook - Analysts express caution regarding the sustainability of the price increase, anticipating potential corrections as the market approaches the traditional off-season for demand [4][5]. - The recovery of terminal demand post-holiday will be crucial for determining the future trajectory of pure benzene prices, with expectations of a slight increase in February due to pre-holiday stockpiling [5].