China's benzene market price first fell, then rose, then fell again in the week of Oct. 9-15, 2026. Early in the week, lower crude oil weighed on sentiment and severe downstream losses pushed prices lower.
Low absolute benzene inventories at main East China ports and mid-month short covering drove a rebound after stabilization. On Thursday, lower crude prices pulled chemicals broadly lower and benzene followed.
Oil-based benzene averaged RMB 10,700/mt for the week, down RMB 185/mt or 1.70% week on week. Coal-based benzene averaged RMB 10,472/mt, up RMB 508/mt or 5.10%.
Supply remained tight: Sinopec Hainan Refining & Chemical's restart was postponed to around late October, two Shandong enterprises underwent maintenance, coal-based benzene operating rates stayed low, and no clearly confirmed import vessels were expected within the month.
Major downstream sectors including styrene, caprolactam, phenol and adipic acid were generally at a loss, and buyers showed limited willingness to chase highs.
