Sinopec Pure Benzene Prices Plunge 500 Yuan to 7,100/Ton as Oil Costs Drop on US-Iran Ceasefire

According to Jin10 Futures, Sinopec's pure benzene listing prices fell sharply on June 22, breaking through the 7,100 yuan per ton mark following a 500 yuan decline. The pullback was triggered by a US-Iran ceasefire memorandum that eased geopolitical risk premiums and sent crude oil prices lower during intraday trading. The drop in international crude oil prices weakened cost support for pure benzene. While East China port inventory levels continued their destocking trend, downstream demand remained limited despite slight production increases, with refiners facing margin pressure.
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