Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-12 09:12Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints - The supply of domestic pure benzene is expected to increase month - on - month, as domestic hydrobenzene plants have the expectation of commissioning and restarting, though the commercial volume of petroleum benzene lacks an increase. The small number of imported cargo arrivals may partially offset the domestic increase. Next week, the consumption of pure benzene is expected to rise month - on - month as the overhaul devices of the five major downstream industries of pure benzene will restart intensively. In the long - term, the new installed capacity of the downstream of pure benzene in August is higher than that of pure benzene, which gives an improvement trend to the supply - demand of pure benzene, and the spot supply - demand gap may gradually shrink. The international oil price is expected to fluctuate, and industrial products rose mainly during the day driven by macro - benefits. Technically, attention should be paid to the support around 6100 and the pressure around 6350 for BZ2603 [2] 3. Summary by Relevant Catalogs Futures Market - The closing price of the main pure benzene contract was 6250 yuan/ton, up 20 yuan; the settlement price was 6264 yuan/ton, up 33 yuan. The trading volume was 947 lots, and the open interest was 14400 lots, up 621 lots [2] Spot Market - In the domestic market, the mainstream prices of pure benzene in East China, South China, North China, and Northeast China were 6584 yuan/ton, 6115 yuan/ton, 6050 yuan/ton, and 6160 yuan/ton respectively. The prices of hydrobenzene in Jiangsu and Shanxi were 6250 yuan/ton and 6000 yuan/ton respectively. The offshore middle price of pure benzene in South Korea was 731 dollars/ton, down 2 dollars; the CFR middle price in China was 749.5 dollars/ton, up 3 dollars [2] Upstream Situation - The spot price of Brent DTD crude oil was 68.28 dollars/barrel, up 0.12 dollars; the CFR middle price of naphtha in Japan was 568 dollars/ton, down 2.5 dollars [2] Industry Situation - The capacity utilization rate of pure benzene was 78.14%, up 0.13 percentage points; the weekly output was 44.6 tons, up 1.03 tons. The port inventory of pure benzene was 16.3 tons, down 0.7 tons. The production cost was 5327.8 yuan/ton, down 118.2 yuan; the production profit was 737 yuan/ton, up 76 yuan [2] Downstream Situation - The开工率 of styrene was 77.73%, down 1.19 percentage points; the capacity utilization rates of caprolactam, phenol, aniline, and adipic acid were 95.72% (up 6.41 percentage points), 78.54% (down 0.46 percentage points), 69.24% (down 0.1 percentage points), and 64.3% (up 2 percentage points) respectively [2] Industry News - The Ministry of Finance, the Central Bank and other departments issued the Implementation Plan for the Loan Interest Subsidy Policy for Service Industry Business Entities to provide interest subsidies for eligible service industry business loans. China and the US agreed to suspend the implementation of a 24% tariff for 90 days starting from August 12, 2025. From August 1 to 7, the profit of petroleum benzene of CNPC was 576 yuan/ton, down 67 yuan/ton compared with the previous week. As of August 11, the commercial inventory of pure benzene in Jiangsu ports was 14.6 tons, down 10.43% [2]