瑞达期货纯苯产业日报-20251014

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The domestic supply - demand of pure benzene remains weak, with petroleum benzene profits staying at a relatively low level. This week, the restart of some domestic petroleum benzene and hydrogenated benzene plants is expected to further increase pure benzene production. In October, new downstream plants of styrene, caprolactam, and phenol are planned to be put into operation, with a converted production capacity higher than that of pure benzene. However, large - scale styrene plants are still in the maintenance period, and there are expectations of a decline in the load of caprolactam, phenol, and adipic acid plants this week, resulting in a persistently weak demand side in the short term. The market sentiment is weak due to the ongoing Sino - US trade dispute, and the downward trend of the BZ2603 contract may continue [2]. 3. Summary According to Related Catalogs 3.1 Futures Market - The closing price of the main pure benzene contract was 5,597 yuan/ton, down 85 yuan; the settlement price was 5,624 yuan/ton, down 83 yuan. The trading volume was 5,926 lots, down 742 lots; the open interest was 14,189 lots, up 635 lots. The mainstream price of pure benzene in the East China market was 5,630 yuan/ton, down 90 yuan; in the North China market, it was 5,510 yuan/ton, down 60 yuan [2]. 3.2 Spot Market - The mainstream price of pure benzene in the South China market was 5,650 yuan/ton, down 100 yuan; in the Northeast region, it was 5,505 yuan/ton, down 16 yuan. The offshore intermediate price of pure benzene in South Korea was 690 US dollars/ton, down 3 US dollars; the CFR intermediate price of pure benzene in China was 703.08 US dollars/ton, down 3.02 US dollars [2]. 3.3 Upstream Situation - The spot price of Brent DTD crude oil was 64.38 US dollars/barrel, down 0.7 US dollars; the CFR intermediate price of naphtha in the Japanese region was 566.75 US dollars/ton, down 10 US dollars [2]. 3.4 Industry Situation - The capacity utilization rate of pure benzene was 78.14%, up 0.13 percentage points; the weekly output was 46.02 tons, up 0.32 tons. The port inventory of pure benzene was 9.1 tons, down 1.5 tons. The production cost was 5,327.8 yuan/ton, down 118.2 yuan; the production profit was 737 yuan/ton, up 76 yuan [2]. 3.5 Downstream Situation - The开工率 of styrene was 73.61%, up 2.37 percentage points; the capacity utilization rate of caprolactam was 95.72%, up 6.41 percentage points; the capacity utilization rate of phenol was 78.54%, down 0.46 percentage points; the capacity utilization rate of aniline was 69.24%, down 0.1 percentage point; the capacity utilization rate of adipic acid was 64.3%, up 2 percentage points [2]. 3.6 Industry News - From October 4th to 10th, the capacity utilization rate of petroleum benzene increased by 0.55% to 79.29%, and that of hydrogenated benzene decreased by 0.75% to 63.24%. The weighted开工率 of pure benzene downstream increased by 1.56% to 77.72%. As of October 13th, the inventory of pure benzene in East China ports was 9.0 tons, a week - on - week decrease of 1.10%. The BZ2603 contract fell 1.93% to close at 5,597 yuan/ton. From October 9th to 11th, the profit of Chinese petroleum benzene was 314 yuan/ton, down 105 yuan/ton from the previous week [2].