China's Dalian Commodity Exchange (DCE) officially launched benzene futures on Tuesday, with benzene options to be launched later in the day.
The trading of futures and options for benzene, an important chemical raw material, has been green-lighted by the China Securities Regulatory Commission (CSRC) on June 20.
At 9:00 Tuesday, benzene futures commenced trading on the DCE.
The first batch of listed contracts includes four varieties, with a trading unit of 30 tonnes per lot and a delivery unit of 30 tonnes, adopting physical delivery.
Experts say the the launch of benzene futures and options will furnish the industry with effective risk management tools and enhance China's say in pricing at global benzene market.
"The launch of benzene futures and options will fill the gap in risk management tools for raw materials in the aromatics industrial chain. Together with the already listed styrene futures and options, they will form a comprehensive hedging toolkit, more efficiently helping enterprises on the industrial chain to stabilize profits and maintain steady production and operations," said Yan Lin, senior manager of the DCE's Commodity Department.
Benzene is a crucial organic chemical raw material, closely linked to national economic development and public livelihoods.
Its upstream supply relies on two major energy sources - oil and coal, and its downstream applications span three key industries: synthetic resins, synthetic fibers, and synthetic rubber.
It is widely used in textiles, home appliances, tires, dyes, and other products.
China is the world's largest producer and consumer of benzene.
In 2024, China's benzene output reached 25.13 million tonnes, with apparent consumption hitting 29.26 million tonnes.
Its market scale has exceeded 208.6 billion yuan (about 29 billion U.S. dollars).
China launches benzene futures
Displaced people from southern Lebanon are returning to their homes as a 10-day ceasefire between Israel and Lebanon took effect, while it seems a tremendous task to rebuild ruined homes.
Nearly 38,000 Lebanese homes have been destroyed or damaged since early March in the conflict between Israel and Hezbollah.
Besides the southern district of Beirut, Nabateih is not an exception to Israel's heavy bombardment north of the Litani River. People there have been suffering during the war. As the ceasefire came into effect, it seems they will continue to suffer as they rebuild the city.
Fifty percent of all the damaged buildings in Lebanon in this latest conflict are in Nabatieh Province. It stretches from the Israeli border to north of the Litani River, where its capital, Nabatieh, is located.
Fadl Hodroj is fixing a security grille damaged by an Israeli bomb.
"Israel was very aggressive. They bombed a lot of residential buildings. They strike buildings with enough force to damage the entire surroundings, an entire district, or the markets. In all villages, you will find the same kind of destruction. No one else does this except for Israel; their main goal is to harm the people and destroy their livelihood. They think they will force us out of the south, but we will stand strong and rebuild it again and again. In the end, this land is ours," said Fadl Hodroj, a repairman.
Fadl's comments resonate in the streets of this quiet city, which once had a population of 90,000. Although there is a ceasefire, few have returned. Ibrahim Sarhan is one of them.
"The house was a mess, with scattered aluminum and glass. But overall, as long as the building is standing, we thank God. A home is not the walls, but the memories -- images that move with you from one room to the other. A young boy who was just two years old, now he’s 30, 40 or 50. Then his kids now roam between the same walls. This is a family house, just like any other family in the south, it contains warmth. Also, the neighbors stand next to each other during the hard times and help one another," said Ibrahim Sarhan, a Nabatieh resident.
Sarhan texted his mother a picture of her favorite chair and table on the balcony, where she had her morning coffee. He didn't show her these visuals of his best friend spraying two containers of air freshener.
They couldn't dare open the fridge because of the intense smell of rotten meat and poultry, so they threw it away.
"The fridge was always loaded with food because we could have a sudden visit from another family. We would start cooking on the spot and prepare you a hot meal without wasting time running to the store for ingredients. Now, it's all rotten and gone bad. God willing, we will get a new fridge soon," Sarhan said.
More than 7,000 buildings have been either demolished or heavily damaged there, making Nabateih second to Beirut in terms of destruction.
More than a million people have been displaced. The few who still live here are wondering and waiting to see if the 10-day temporary truce will continue.
Displaced Lebanese return home for reconstruction
