From September 9, 2022 to September 16, 2022, the bidding price of crude benzol rose. Last weekend, it was 6729 yuan/ton, and this weekend, it was 6915 yuan/ton, with a weekly increase of 2.76%.
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In terms of crude oil, international crude oil futures fell sharply over the weekend. The settlement price of the main contract of the U.S. WTI crude oil futures was 85.10 dollars/barrel, down 3.38 dollars or 3.8%; The settlement price of the main contract of Brent crude oil futures was 90.84 dollars/barrel, down 3.26 dollars or 3.5%. WTI crude oil fell nearly 4%, hitting a one week low. At the macro level, the Federal Reserve may significantly increase interest rates, making the dollar stronger again, depressing oil price estimates. In addition, the expectation of global economic recession continues to depress oil prices.
The crude oil analysts of the business community believe that in the short term, the good news on the supply side of the oil market and the bad news on the demand side will continue to play a game. In particular, the trend of geopolitical tension is becoming more serious, and the oil price is subject to more interference factors, which will further aggravate the shock of the oil market. The probability of short-term oil market wide shocks is high.
Summary of Sinopec Pure Benzene Price Adjustment (Unit: yuan/ton)
Date., Adjusted Price., Adjusted Amount
August 11., 7950., – 200
August 16., 7750., – 200
August 18., 7500., – 250
August 30., 7600.,+100
September 6., 7750.,+150
On September 6, 2022, the ex factory price of Sinopec pure benzene will be increased by 150 yuan/ton, and the current implementation is 7750 yuan/ton.
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Other enterprises’ quotation: Jingbo Petrochemical quoted 7900 yuan/ton, HSBC Petrochemical quoted 7800 yuan/ton, Weilian Chemical quoted 7853 yuan/ton, Xinhai Petrochemical quoted 7850 yuan/ton, Hongrun Petrochemical quoted 7950 yuan/ton.
The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. The weekly K-bar chart of pure benzene shows that the price of pure benzene has fallen continuously since July, and it has recovered slightly in late August and early September.
From the perspective of the industrial chain, the pure benzene market rose first and then fell this week. At the beginning of the week, supported by the double advantages of crude oil and styrene, the price of pure benzene rose, and downstream people generally purchased on demand. The enthusiasm for purchasing high priced goods was limited, and the overall market transaction was average. In the near weekend, with the impact of the lower crude oil price and the overall decline of styrene, the price of pure benzene decreased slightly, and the market as a whole stayed on the sidelines. However, the ex factory price of benzene hydrogenation enterprises rose overall this week, driven by the improvement of downstream procurement. On the supply side, the operating rate of pure benzene declined slightly this week, and the arrival of cargoes in East China ports was delayed, resulting in a slight shortage of market supply.
The crude benzol price continued to rise this week. The bidding price in Shandong Province this week was 6980-6985 yuan/ton, 150 yuan/ton higher than last week. In terms of supply, the overall construction of coking enterprises this week was fairly good, the supply of crude benzol was relatively stable, and the growth rate in other regions of China also remained at 100-200 yuan/ton. In terms of downstream demand, the operating rate of benzol hydrogenation enterprises declined slightly this week, but the demand for crude benzol was moderate due to the impact of pre holiday stock. In the future market, the business community believed that, near the National Day and the Twentieth National Congress, coking enterprises expected to increase their production limit in the future market, the supply of crude benzol was expected to be tight, and the industry chain was still positive. Affected by the demand for goods before the festival and other positive factors, the crude benzol market was expected to operate stably and strongly in the future market, with a certain upward space.
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