1、 Price trend
This week, pure benzene rose first and then fell, according to a large number of data from the business club. The listing price of pure benzene on Friday is 5700-5950 yuan / ton, up 2.08% from 5700-5900 yuan / ton on Friday. The highest price of this week is from Tuesday to Friday, and the price is 5800-5950 yuan / ton.
2、 Analysis and comment
1. Product: this week’s pure benzene port inventory continued to decline compared with last week, but the data showed that the inventory picked up in the middle of the week. In the week, Sinopec raised its listing price by 200 yuan / ton to 5950 yuan / ton, driving other enterprises to keep up. However, it is heard that there are large styrene factories in the downstream planning to shut down. In addition, enterprises in Shandong Province are not able to deliver goods smoothly. In the second half of the week, the market mentality is empty, and the price will drop slightly near the weekend.
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2. Crude oil: this week, crude oil continued to rise against the favorable background of improving trade relations and deepening OPEC production reduction. WTI was up 1.8% from December 20, and Brent was up 2.8%.
3. Foreign exchange: this week coincides with Christmas, the foreign exchange is light, the support is general; after the festival, the market has a certain recovery.
4. Related industries: styrene fell by 2.24% this week, with production losses of styrene enterprises; aniline rose by 0.76% this week with a small increase in cost, but the increase was limited by downstream demand.
3、 Future forecast
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1. Crude oil: next week, the overall trend of crude oil market is still upward, rising trend waiting for more good news from the market.
2. Market: the profit level of downstream product enterprises is low, and there is a large styrene plant planned to be overhauled, so the demand for pure benzene will be greatly affected. In addition, the closing of the arbitrage window of the Asian American market in the outer market has a negative impact.
On the whole, pure benzene is expected to weaken slightly next week.
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