瑞达期货纯苯产业日报-20260121

Report Summary - Report Date: January 21, 2026 - Report Type: Pure Benzene Industry Daily Report - Researcher: Lin Jingyi (Futures Practitioner Qualification No. F03139610, Futures Investment Consulting Practitioner Certificate No. Z0021558) - Assistant Researcher: Xu Tianze (Futures Practitioner Qualification No. F03133092) 1. Industry Investment Rating - Not provided in the report. 2. Core Viewpoints - Domestic pure benzene supply and demand are expected to shift from a wide balance to a tight balance. The开工 rates of domestic petroleum benzene and hydrogenated benzene decreased last week, leading to a decrease in pure benzene production. The weighted开工 rate of pure benzene downstream increased, and the inventory accumulation in East China ports slowed down. The profit of petroleum benzene is at a moderately low level. In mid - to - late January, the restart of some domestic petroleum benzene plants is expected to slightly increase the开工 rate. The restart of some styrene plants in late January will boost pure benzene demand, while the开工 rate of caprolactam is expected to remain low, and the开工 rates of aniline and adipic acid are expected to increase in the short term [2]. - In terms of cost, the geopolitical situation between the US and Iran remains uncertain, and international oil prices may be disturbed by geopolitical factors. In the short - term, BZ2603 is expected to fluctuate in the range of 5700 - 5930 yuan/ton [2]. 3. Key Data Summaries 3.1 Futures Market - Pure Benzene Futures: The closing price of the main contract was 5805 yuan/ton, up 38 yuan; the settlement price was 5827 yuan/ton, up 55 yuan. The trading volume was 40,563 lots, up 8249 lots; the open interest was 31,096 lots, down 1232 lots [2]. 3.2 Spot Market - Domestic Market: The mainstream prices in East China, North China, South China, and Northeast China were 5690 yuan/ton, 5580 yuan/ton, 5600 yuan/ton, and 5570 yuan/ton respectively. The mainstream prices of hydrogenated benzene in Jiangsu and Shanxi regions were 5750 yuan/ton and 5325 yuan/ton respectively [2]. - International Market: The FOB mid - price of pure benzene in South Korea was 725 US dollars/ton, down 3 US dollars; the CFR mid - price in China was 723.36 US dollars/ton, down 2.12 US dollars [2]. 3.3 Upstream Situation - The spot price of Brent DTD crude oil was 68.17 US dollars/barrel, up 0.33 US dollars; the CFR mid - price of naphtha in Japan was 549 US dollars/ton, up 0.5 US dollars [2]. 3.4 Industry Situation - Capacity Utilization and Output: The capacity utilization rate of pure benzene was 74.26%, down 0.12 percentage points; the weekly output was 43.64 tons, down 0.07 tons [2]. - Inventory and Cost: The port inventory of pure benzene was 32.4 tons, up 0.6 tons; the production cost was 4978 yuan/ton, up 63.4 yuan/ton; the production profit was 369 yuan/ton, down 26 yuan/ton [2]. 3.5 Downstream Situation - Capacity Utilization: The开工 rate of styrene was 70.86%, down 0.06 percentage points; the capacity utilization rate of caprolactam was 77.17%, up 2.95 percentage points; the capacity utilization rate of phenol was 88.75%, up 3.38 percentage points; the capacity utilization rate of aniline was 73.26%, up 11.95 percentage points; the capacity utilization rate of adipic acid was 65.3%, down 2.3 percentage points [2]. 3.6 Industry News - From January 10th to 16th, the开工 rate of petroleum benzene decreased by 0.12% to 74.26%, and the开工 rate of hydrogenated benzene decreased by 4.07% to 57.59% [2]. - From January 10th to 16th, the weighted开工 rate of pure benzene downstream increased by 2.14% to 74.50% [2]. - As of January 19th, the inventory of pure benzene in East China ports was 29.7 tons, down 8.33% from last week [2]. - From January 9th to 15th, the profit of petroleum benzene was 369 yuan/ton, down 26 yuan/ton from the previous week [2].