近支撑与5580附近压力。 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 主力收盘价:纯苯(日,元/吨) | 5425 | -34 主力结算价:纯苯(日,元/吨) | 5452 | 29 | | | 主力成交量:纯苯(日,手) 市场价:纯苯:华东市场:主流价(日,元/吨) | 13265 5325 | 1236 主力持仓量:纯苯(日,手) 40 市场价:纯苯:华北市场:主流价(日,元/吨) | 23659 5150 | 842 0 | | 现货市场 | | | | | | | | 市场价:纯苯:华南市场:主流价(日,元/吨) | 5300 | 0 市场价:纯苯:东北地区:主流价(日,元/吨) | 5156 | 24 | | | 市场价:加氢苯:江苏地区:主流价(日,元/吨 | 5325 | 市场价:加氢苯:山西地区:主流价(日,元/吨 0 | 5050 | 0 | | | ) ...

BZ&Eb周报：维持底部区间震荡 国泰君安期货研究所·黄天圆 投资咨询从业资格号：Z0018016 日期：2025年12月14日 Guotai Junan Futures all rights reserved, please do not reprint | | 本周纯苯、苯乙烯总结：底部区间震荡 | | | --- | --- | --- | | 供应 | • • | 纯苯国产：12月检修11万吨，1月检修维持11万吨（假设考虑浙石化检修带来4.5万吨减量），主要是中化泉州、丽东、浙石化等装置检 | | | | 修量大。部分山东地炼在解决了配额问题之后仍会提高负荷，弥补部分产量损失。1月关注巴斯夫湛江新投产带来的纯苯增量。 | | | | 纯苯进口：外盘压力仍然偏大，韩国纯苯抛压在11月-12月仍然偏大，进口居高难下。1月目前进口分歧较大，预计仍然在45万吨左右的 | | | | 高进口，2月之后的进口待评估。 | | 需求 | • • | 苯乙烯：12月检修8.5万吨，1月检修6.5万吨。12月之后装置开工逐步恢复，关注山东国恩化工装置开工带来的增量。 | | | • | 己内酰胺：CPL负反馈开始，工 ...

Core Viewpoint - The domestic pure benzene market is experiencing a downward trend due to increased production, rising import pressures, and weakened downstream demand, leading to expectations of continued price declines in the future [1][4]. Group 1: Import Dynamics - The import volume of pure benzene in China has significantly increased, with a 56.19% year-on-year rise in the first half of 2025, totaling 2.7306 million tons [2]. - South Korea's exports of pure benzene to China surged by 62,000 tons, marking a 79% increase, while exports to the U.S. plummeted by 90% [2]. - It is projected that China's total pure benzene imports for the year will exceed 5 million tons, driven primarily by imports from South Korea [2]. Group 2: Domestic Supply Trends - Domestic pure benzene production has seen a slight increase, with a production capacity utilization rate of 79.18% and a production volume of 451,900 tons, reflecting a 0.24% increase [3]. - Despite a decrease in production profits to 671 yuan per ton, the overall profitability of the industry remains high, allowing for continued production plans [3]. - The absence of new large-scale maintenance in September and the potential commissioning of new facilities suggest ongoing supply pressure in the domestic market [3]. Group 3: Downstream Demand - Weak terminal demand has led to continued losses in the main downstream products of pure benzene, including styrene and phenol, with some products transitioning from profit to loss [4]. - The average loss margin for the five main downstream products has narrowed, but overall, the demand for pure benzene is expected to decline further [4]. - The anticipated maintenance of styrene facilities is likely to negatively impact pure benzene consumption, contributing to increased inventory pressure [4].