瑞达期货纯苯产业日报-20260225

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The short - term pure benzene price is expected to fluctuate with the oil price, and the daily range of BZ2604 is expected to be around 6080 - 6320 yuan/ton. During the Spring Festival, the operating load of domestic petroleum benzene plants increased slightly, the operating rate of hydrobenzene plants remained stable, and the domestic pure benzene output changed little. The downstream weighted operating rate of pure benzene rose slightly within the neutral range, and the inventory pressure at the East China port after the festival was relatively high. The international oil price fell slightly the previous day [2] 3. Summary According to Different Catalogs 3.1 Futures Market - The closing price of the pure benzene main contract was 6152 yuan/ton, a decrease of 47 yuan; the settlement price was 6195 yuan/ton, an increase of 38 yuan. The trading volume was 13654 lots, an increase of 3996 lots; the open interest was 8624 lots, a decrease of 3386 lots [2] - The mainstream prices in the East China, South China, and Northeast markets were 6150, 6150, and 6187 yuan/ton respectively, with changes of 0, 0, and an increase of 102 yuan; the mainstream price in the North China market was 6200 yuan/ton, a decrease of 80 yuan [2] 3.2 Spot Market - The mainstream prices of hydrobenzene in Jiangsu and Shanxi regions were 6325 and 6050 yuan/ton respectively, with changes of an increase of 100 yuan and 0 yuan [2] - The FOB mid - price of pure benzene in South Korea was 780 US dollars/ton, an increase of 3 US dollars; the CFR mid - price in China was 784.94 US dollars/ton, an increase of 5.93 US dollars [2] - The CFR mid - price of naphtha in the Japanese region was 613.5 US dollars/ton, a decrease of 0.75 US dollars [2] 3.3 Upstream Situation - The spot price of Brent DTD crude oil was 71.45 US dollars/barrel [2] - The capacity utilization rate of pure benzene was 79.52%, an increase of 0.9%; the weekly output was 46.73 tons, an increase of 0.53 tons [2] 3.4 Industry Situation - The port inventory of pure benzene was 30.4 tons, an increase of 0.7 tons; the production cost was 5423 yuan/ton, an increase of 43.4 yuan; the production profit was 712 yuan/ton, unchanged [2] 3.5 Downstream Situation - The开工 rate of styrene was 73.2%, an increase of 2.12%; the capacity utilization rate of caprolactam was 74.1%, unchanged; the capacity utilization rate of phenol was 89.58%, an increase of 0.83%; the capacity utilization rate of aniline was 89.58%, an increase of 0.33%; the capacity utilization rate of adipic acid was 69%, unchanged [2] 3.6 Industry News - From February 14th to 20th, the operating rate of domestic petroleum benzene plants was 79.52%, a 0.9% increase from the previous week; the operating rate of hydrobenzene plants remained stable [2] - From February 14th to 20th, the downstream weighted operating rate of pure benzene was 77.29%, a 1.20% increase compared to before the festival [2] - As of February 24th, the East China pure benzene port inventory was 30.4 tons, a 2.36% increase from the previous period [2] - On February 24th, the domestic petroleum benzene profit was 682 yuan/ton, a decrease of 19 yuan/ton compared to before the festival [2]