On the one hand, the international oil price continued to improve. Although it experienced a slight drop in a few days, it soon stood at the high level in the previous year again, which significantly supported the prices of major domestic chemical commodities. On the other hand, affected by the factors of replenishment after the festival, the market consumption expectation increased and the market inquiry increased significantly, which had a pulling effect on all products. At the same time, affected by the continuous rise of pure benzene Market during the holiday period and the continuous tight supply, the crude benzene industry chain showed an eye-catching performance. According to the commodity prices monitored by the business agency, crude benzene rose by 18.08% and hydrogenated benzene by 14.29% in less than half a month from April 30 to May 13.
Since the end of April, crude oil prices have been supported by a high level. During the festival, pure benzene supply in Europe and the United States continues to be tight. The window of external market soaring and Asian arbitrage has opened. Pure benzene in Asia is exported to Europe and the United States, while domestic imports are reduced, and spot supply continues to be tight. Sinopec has frequently raised the ex factory price of pure benzene since the end of April. As of May 12, it has raised the ex factory price of pure benzene four times, with a cumulative increase of 900 yuan / ton. At present, the ex factory price of pure benzene of Sinopec is 8200 yuan / ton, and that of Qilu Petrochemical is 8150 yuan / ton.
Affected by the 51 small and long holidays, most of the crude benzene enterprises still implement the bidding price on April 28 before the festival for a long time after the festival. After a new round of bidding started on May 12, the crude benzene price rose sharply, the mainstream manufacturers in Shandong increased by 860 yuan / ton, and the profit of hydrobenzene began to shrink. In terms of coking enterprises, the overall profit is good at present. The environmental protection and production reduction policy in Shanxi Province has been gradually relaxed since May. The local coking enterprises have started to recover gradually. The enterprises start to work actively, and the crude benzene supply is relatively stable.
In terms of downstream demand, as of May 12, the overall operating rate of domestic hydrogenated benzene enterprises was about 68%. At present, the prices of hydrogenated benzene and pure benzene are at a high level, and they return to the high level of 8000 after four years. The profits of enterprises have improved, the manufacturers are active in production, and some units have plans to restart. At present, the demand for crude benzene is good. However, the high price of crude benzene has reduced the profit margin of hydrogenated benzene, and hydrogenated benzene manufacturers have a strong price support mentality.
In the future, the business community thinks that the downstream styrene price fluctuates frequently, pure benzene and hydrogenated benzene are at the high level in the past four years, and the market needs time to digest the recent increase. It is expected that the crude benzene industry chain commodity will run at a high price in the short term, and the driving force will be insufficient.