Benzene prices rose slightly this week (July 15-July 19, 2019)

Price Trend

According to the data from the business associations’list, the domestic pure benzene’s growth slowed down this week, rising by about 100 yuan/ton from last week. This week, the highest price of pure benzene appeared on Friday, with the price between 5250 and 5350 yuan/ton, an increase of 0.48% compared with last week.

http://www.sodium-persulfate.com

II. Analytical Review

1. Products: This week’s rise in pure benzene slowed down. At the beginning of the week, the situation continued last week, and the domestic pure benzene market was boosted by the favorable factors of the continuous decline of port stocks and the continued rise of pure benzol US dollar plate. On Tuesday, the close of the benzo dollar market plunged and continued to fall, damaging the bullish mood of market participants. Due to the lower external market, the domestic market lacks the driving force for speculation.

ferrous fumarate price

2. Crude oil: Oil and gas production began to recover this week after the Gulf of Mexico storm, and oil prices began to retreat from last week’s rise. In addition, data released by EIA on Wednesday showed that although U.S. crude oil inventories declined for five consecutive weeks, the significant increase in refined oil inventories meant that demand slowed down and oil prices in Europe and the United States began to plunge. Brent oil prices fell nearly 9% compared with last week, and WTI oil prices fell about 8%.

3. Downstream: The price of styrene in the downstream of this week dropped by 3.35% compared with last week, which has little effect on the price of pure benzene. Downstream aniline rose by 3.01% from last week.

best iron supplement

4. Outside: This week, the price of pure benzene in the United States dropped sharply, hitting the bullish mood of the market.

3. Future Market Forecast

1. Crude Oil: Next week, EIA lowered global crude oil demand expectations, market concerns about trade risks remain, coupled with poor performance of U.S. stocks, European and American crude oil may continue to decline.

2. Domestic market: Due to the continuous decline of the external market and the narrowing of the price gap between the internal and external markets, the domestic pure benzene market lacks the incentive to continue to speculate.

Considering comprehensively, the pure benzene market will run steadily next week.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>