In China, sentiment was bearish in the benzene market along with the soft crude oil market. Market players, however, expect that buying interest would rise for inventory replenishment before the National Day holidays in China from Oct 1 to Oct 7. With inventories low, the derivative styrene monomer market remains firm and the feedstock benzene market might rebound going forward.

Some market players forecast that crude oil prices might increase in the future and this might boost the benzene market. A hurricane hit the US, which might have had an impact on crude oil production. Further, an interest rate cut was announced in the country. In China, arrivals and discharge of import cargoes were delayed as Typhoon Bebinca and Pulasan hit East China. As a result, benzene inventories are on the decline.

In the derivative market, profitability of some products including styrene monomer is improving and buying interest in benzene is strengthening. Market players are paying attention to the operation situation of derivative facilities going forward.