1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the market price of pure benzene in Shandong Province first rose and then fell this week, and overall the price has declined. On Monday, the price of pure benzene was 8536.67 yuan/ton, and on Friday it was 8420 yuan/ton, with a 1.37% decrease in price during the week.
2、 Market analysis
Pure benzene: This week, the market price of pure benzene in Shandong region first rose and then fell, and overall the price has declined. Recently, due to geopolitical factors, international crude oil futures prices have fallen, and confidence in the pure benzene market has weakened. This week, Sinopec’s refineries in East China, South China, and Central China have lowered the price of pure benzene by 300 yuan/ton. The latest quotation is 8700 yuan/ton, which will be implemented on April 9th. Today, Shandong’s local refining market maintained stable prices, with a weak and stable trend, while prices in the East China market fell.
This week, Sinopec lowered its price by 300 yuan/ton to 8700 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On April 9th, international crude oil futures closed higher. The settlement price of the May WTI crude oil futures contract in the United States was $97.87 per barrel, an increase of $3.46 or 3.7%. The settlement price of Brent crude oil futures in June was $95.92 per barrel, an increase of $1.17 or 1.2%.
Foreign pure benzene: On April 9th, FOB Korea rose by $47 to $1156 per ton, and CFR China rose by $47 to $1167 per ton. FOB Rotterdam rose 42 to $1181 per ton, FOB USG rose 16 to 481 cents per gallon.
Overall expectation: The short-term pure benzene market is expected to be strong and volatile, with cautious trading. Observe the cost and demand side news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.