Price trends:

In September 2019, the hydrobenzene market rose. The ex-factory price in North China was 516.67 yuan/ton at the beginning of the month and 5600 yuan/ton at the end of the month, with a monthly increase of 9.45%.

On September 30, the hydrobenzene commodity index was 61.81, unchanged from yesterday, down 39.41% from the peak of 102.01 points in the cycle (2014-01-09), and up 38.71% from the low of 44.56 points on August 31, 2015. (Note: Period refers to 2013-12-01 to date).

II. Market analysis:

Domestic market: Hydrobenzene market rose this month with a monthly increase of 9.45%. Crude oil rose sharply in mid-September under the influence of Saudi Arabia incident. Outer market of pure benzene rose sharply. FOB Korea closed up 41.5 US dollars/ton at 734-736 US dollars/ton. CFR China rose 28.5 US dollars/ton at 739-741 US dollars/ton. The hydrogenated benzene market was driven higher, and the manufacturers increased 150-200 yuan / ton within the week of offer, and the overall operating rate of the unit this week was about 50%. The price difference between crude benzene and hydrobenzene was reduced. The profit is reduced, so the manufacturer’s willingness to ship is low. Downstream units such as styrene and phenol start up relatively high, stock sentiment is relatively strong, and the price of hydrobenzene is better supported. At the end of the month, with the approaching of the National Day holiday, market turnover is limited, the market gravity is downward, and the price at the end of the month falls by 150-250 yuan/ton in the week. Affected by environmental protection and production cost, the comprehensive start-up level of hydrobenzene dropped to the lowest level in the near future at the end of the month, and the shipment enthusiasm of hydrobenzene manufacturers increased.

Industry Chain: Crude Oil: On September 14, Saudi Arabia’s largest crude oil facility was attacked by unmanned aerial vehicles, resulting in more than 5 million barrels per day production suspension, Saudi oil output and exports were greatly affected, international oil prices jumped, rising by more than 10%. Due to the sharp rise of international oil price, which is good for the bulk market, pure benzene rose sharply on June 16-18. This month, WTI oil prices rose by 1.64% compared with last month, while Brent oil prices rose by 5.75%. Pure benzene: At the beginning of the month, due to the lower inventory of pure benzene in East China, the market supply is on the low side, and the price of pure benzene has an obvious rise. Affected by the Saudi Arabian incident on the 16th, crude oil and pure benzene external market soared, driving the domestic market of pure benzene upward. This month, the total spot of pure benzene is on the low side, and the port inventory keeps falling, which supports the high price of pure benzene. At the end of the month, the impact of the Saudi Arabian incident subsided, the crude oil outer disk declined, the price gap between domestic and foreign decreased, and the high price support of pure benzene weakened. In addition, near 11, downstream environmental protection inspection, parking restrictions in some factories, pure benzene just needed insufficient, the market fell.

3. Trend forecast:

Prices of crude benzene rose sharply in the early period, and the pressure of hydrogenated benzene was strong. With the environmental upgrade, the maintenance of hydrogenated benzene enterprises increased, the shipment was positive, and there was downward space in the future.