1、 Price trend

 

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According to the business club’s big list data, the price of pure benzene continued to rise this week, boosted by multiple positive. On August 9, the listed price of pure benzene was 3330-3450 yuan / ton (average price was 3440 yuan / ton); on Sunday (August 16), the listed price of pure benzene was 3200-3400 yuan / ton (average price was 3360 yuan / ton), and the average price was 80 yuan / ton or 2.33% lower than last week.

 

2、 Analysis and comment

 

This week, some downstream units of pure benzene were overhauled in the north, and the supply of goods was sent to East China, and the downstream price reduction intention was obvious. External market weakness, coupled with Sinopec North China listing price down to 3300 yuan / ton, the bottom support weakened, this week pure benzene fell significantly. This week, pure benzene port inventory rose slightly, still waiting for unloading, inventory high.

 

On the external side, the external market continued to weaken this week. On Friday (August 14), the import of pure benzene from South Korea was US $429.33/t, down by US $7 / T, or 1.6%, compared with August 7; and that of East China was 440 US dollars / ton, down 5 US dollars / ton, or 1.12% compared with August 7.

 

In terms of crude oil, crude oil rose at the beginning of this week. However, in the second half of the week, major institutions have successively lowered their forecasts for global crude oil demand this year, dragging down oil prices. Compared with August 7, Brent was up $0.255/barrel, or 0.58%, and WTI was up $0.82/barrel, or 1.98%. Compared with December 31, 2019, Brent decreased by 33.33%, and WTI decreased by 30.38%.

 

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Downstream, styrene weak decline this week, operating rate than the previous week has decreased. On August 14, the price of styrene in Shandong was 5250 yuan / ton, down 116.67 yuan / ton or 2.17% from last week.

 

At present, aniline is in a loss state, and enterprises may reduce the negative insured price. On August 14, the price of aniline in Shandong was 4200-4330 yuan / ton, and that in Nanjing was 4300-4500 yuan / ton, which was stable this week.

 

3、 Future forecast

 

In terms of crude oil, the three major institutions have lowered their oil demand forecasts for this year, oil producing countries will increase crude oil supply in August, and the market is worried that public health events will continue to affect crude oil demand, and the oil price will continue to fluctuate in the short term.

 

Crude oil and external market trend downward, downstream price downward intention is obvious, port inventory high, bottom support weakened, is expected to continue to decline next week.

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