Benzene Prices Hold Firm Amid Tight Supply in Major Refining Hubs

Supply Constraints and Exports

Lower refinery utilization rates for aromatics-rich reformate have limited the production of benzene. This supply tightness is clashing with strong demand for exports, effectively creating a price floor despite weak domestic styrene demand.

Styrene Sector Influence

While benzene is firm, the downstream styrene sector remains the key risk factor. If derivative margins continue to deteriorate, it could eventually force benzene producers to lower offers to stimulate demand later in the quarter.