Price trends:
II. Market analysis:
Domestic market: This week’s crude benzol Market offer rose sharply, the mainstream market offer in 3650-3910 yuan/ton, a high rise of 210 yuan/ton compared with the previous period. Mainly due to the rise of pure benzene external market, Sinopec’s listed price, downstream hydrobenzene quotation, the overall crude benzene industry chain is bullish, this week’s bidding price has risen sharply, coking enterprises are active in taking goods, price sentiment is obvious, favorable centralized release, downstream demand is good, replenishment is positive. In terms of supply, in recent years, the intensity of environmental protection inspection is relatively strong. Construction in Shandong is generally started at – 50% or so. In some areas of Shanxi, intermittent production restrictions are imposed, and the supply of crude benzene market is on the short side.
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Industry Chain: Crude Oil: This week’s oil price shocks rose, compared with last week’s overall rise. US crude oil was close to $60 per barrel due to the sharp decline in US crude oil stocks and the negative impact of the decline in refined oil stocks. Pure benzene: Domestic pure benzene prices continued to rise this week. At the beginning of the week, the price of pure benzene rose 50-200 yuan for three consecutive days, sustained by the good downstream styrene market last week and the decline of pure benzene port stocks. Beginning on Thursday, as most contracts have been completed, the market is not hot to catch up with, the wait-and-see atmosphere is strong, and the pure benzene market recovers flat.
3. Trend forecast:
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With the increase of summer temperature, the environmental protection situation will be more severe, and the crude benzene market will be on the tight side in the future. Although the prices of pure benzene, toluene and xylene have risen at present, the downstream cost pressure is still large, which will somewhat limit the increase of crude benzene. It is expected that the increase of crude benzene will be around 120-150 yuan/ton next week.
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