瑞达期货纯苯产业日报-20260106

1. Report Industry Investment Rating - No information provided on the industry investment rating [1][2] 2. Core Viewpoints - The macro - sentiment is warm, and industrial products mainly rose during the day. BZ2603 closed up at 5433 yuan/ton. Recently, the operating rates of petroleum benzene and hydrogenated benzene have slightly increased, and the domestic pure benzene output has increased month - on - month. The weighted operating rate of pure benzene downstream has slightly increased. The inventory in East China ports continues to accumulate and is much higher than the same period in previous years. The profit of domestic petroleum benzene has recovered from a low level. In January, some devices will be under maintenance while others will restart, and new devices are planned to be put into production, so the domestic pure benzene output is expected to increase slightly. The load of large - scale styrene devices downstream is stable, and the operating rate is expected to remain stable; the overall operating rate of caprolactam is expected to change little; some overhauled devices of phenol, aniline, and adipic acid are planned to restart. In terms of cost, the market believes that it will take time for Venezuela's crude oil production to recover, and international oil prices fluctuated and rose yesterday. In the short term, BZ2603 is expected to fluctuate in the range of 5350 - 5520 yuan/ton [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The main closing price of pure benzene was 5433 yuan/ton, with a week - on - week increase of 27 yuan/ton; the main settlement price was 5417 yuan/ton, with a week - on - week increase of 7 yuan/ton. The main trading volume was 9724 lots, a decrease of 6220 lots; the main open interest was 28571 lots, an increase of 797 lots. The mainstream market prices of pure benzene in East China, South China, North China, and Northeast China were 5290, 5300, 5250, and 5233 yuan/ton respectively, with week - on - week changes of - 60, 0, 0, and - 3 yuan/ton [2] 3.2 Spot Market - The mainstream market prices of hydrogenated benzene in Jiangsu and Shanxi were 5425 and 5040 yuan/ton respectively, with a week - on - week increase of 50 yuan/ton in Jiangsu. The spot prices of pure benzene in South Korea (FOB) and China (CFR) were 657 and 665.88 dollars/ton respectively, with week - on - week decreases of 9 and 7.28 dollars/ton [2] 3.3 Upstream Situation - The spot price of Brent DTD crude oil was 63.1 dollars/barrel, with a week - on - week increase of 1.72 dollars/barrel. The CFR intermediate price of naphtha in Japan was 522.5 dollars/ton, with a week - on - week decrease of 7.63 dollars/ton [2] 3.4 Industry Situation - The capacity utilization rate of pure benzene was 75.18%, a week - on - week increase of 0.29%. The weekly output was 43.55 tons, a week - on - week decrease of 0.08 tons. The port inventory of pure benzene was 30 tons, an increase of 2.7 tons. The production cost was 4993.25 yuan/ton, a week - on - week decrease of 115.75 yuan/ton. The production profit was 332 yuan/ton, a week - on - week increase of 131 yuan/ton [2] 3.5 Downstream Situation - The operating rates of styrene, caprolactam, phenol, aniline, and adipic acid were 70.23%, 75.52%, 79.73%, 59.81%, and 68.2% respectively, with week - on - week changes of - 0.47%, 1.47%, 1.58%, - 3.17%, and 4.6% [2] 3.6 Industry News - From December 27th to January 2nd, the operating rate of petroleum benzene increased by 0.22% to 75.11% week - on - week, and the operating rate of hydrogenated benzene increased by 1.07% to 60%. The weighted operating rate of pure benzene downstream increased by 0.27% to 71.34% week - on - week. As of January 5th, the inventory of pure benzene in East China ports was 31.8 tons, a 6.00% increase from the previous period. As of January 4th, the weekly profit of petroleum benzene was 371 yuan/ton, an increase of 18 yuan/ton from the previous period [2]