瑞达期货纯苯产业日报-20251015

Report Industry Investment Rating - Not provided Core Viewpoints - The domestic supply - demand of pure benzene remains weak, and the profit of petroleum benzene continues to be at a low level [2] - This week, some domestic petroleum benzene and hydrogenated benzene plants are restarting, and the output of pure benzene is expected to further increase [2] - New plants of downstream styrene, caprolactam, and phenol are planned to be put into operation in October, 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, so the demand side remains weak in the short term [2] - The 301 investigation and restriction measures of the US on China's shipbuilding and other industries have been implemented, and the international oil price fell yesterday. The market digests the impact of Sino - US trade disputes, and the international oil price fluctuates at a low level recently. Industrial products opened lower and moved higher with mixed gains and losses. In the short term, BZ2603 is expected to show a volatile trend, with the daily trading range expected to be around 5530 - 5630 [2] Summary by Related Catalogs Futures Market - The closing price of the main pure benzene futures contract was 5579 yuan/ton, a decrease of 18 yuan; the settlement price was 5585 yuan/ton, a decrease of 39 yuan [2] - The trading volume of the main pure benzene futures contract was 3486 lots, a decrease of 2440 lots; the open interest was 14304 lots, an increase of 115 lots [2] Spot Market - The mainstream price of pure benzene in the East China market was 5630 - 5650 yuan/ton, unchanged; in the North China market, it was 5510 - 5475 yuan/ton, a decrease of 30 yuan/ton [2] - The mainstream price of hydrogenated benzene in Jiangsu was 5625 yuan/ton, a decrease of 50 yuan/ton; in Shanxi, it was 5450 yuan/ton, unchanged [2] - The FOB mid - price of pure benzene in South Korea was 673 US dollars/ton, a decrease of 17 US dollars/ton; the CFR mid - price of pure benzene in China was 688 US dollars/ton, a decrease of 15.09 US dollars/ton [2] - The spot price of Brent DTD crude oil was 62.83 US dollars/barrel, a decrease of 1.55 US dollars/barrel; the CFR mid - price of naphtha in Japan was 553 US dollars/ton, a decrease of 13.75 US dollars/ton [2] Upstream and Industrial Situations - The capacity utilization rate of pure benzene was 78.14%, an increase of 0.13 percentage points; the weekly output was 46.02 tons, an increase of 0.32 tons [2] - The port inventory of pure benzene was 9.1 tons, a decrease of 1.5 tons; the production cost was 5327.8 yuan/ton, a decrease of 118.2 yuan/ton; the production profit was 737 yuan/ton, an increase of 76 yuan/ton [2] Downstream Situations - The开工率 of styrene was 73.61%, an increase of 2.37 percentage points; the capacity utilization rate of caprolactam was 95.72%, an increase of 6.41 percentage points [2] - The capacity utilization rate of phenol was 78.54%, a decrease of 0.46 percentage points; the capacity utilization rate of aniline was 69.24%, a decrease of 0.1 percentage point; the capacity utilization rate of adipic acid was 64.3%, an increase of 2 percentage points [2] Industry News - From October 4th to 10th, the capacity utilization rate of petroleum benzene increased by 0.55% to 79.29% week - on - week, and the capacity utilization rate of hydrogenated benzene decreased by 0.75% to 63.24% [2] - From October 4th to 10th, the weighted operating rate of pure benzene downstream increased by 1.56% to 77.72% week - on - week [2] - As of October 13th, the inventory of pure benzene in East China ports was 9.0 tons, a decrease of 1.10% from last week [2] - From October 9th to 11th, the profit of Chinese petroleum benzene was 314 yuan/ton, a decrease of 105 yuan/ton from last week [2]