1、 Price trend

According to the Commodity Market Analysis System of Business Society, the price of pure benzene has dropped this month, with a price of 9318 yuan/ton on July 1st; On July 9th, the price was 8888 yuan/ton, a decrease of 4.61% from the beginning of the month and an increase of 41.34% from the same period last year.

2、 Analysis and Review

Pure benzene: The inventory of ports in East China has increased, and the inventory of pure benzene ports in Jiangsu region is 30000 tons, an increase of 9000 tons from the previous period’s inventory of 21000 tons, and a decrease of 83.9% from the same period last year. The market supply is abundant, and the pure benzene market continues to decline. Night trading of pure benzene negotiated around 8800 yuan/ton.

This month, the price of Sinopec pure benzene has dropped to 8950 yuan/ton.

Downstream aspect

The market price of styrene has slightly increased. From the above chart, it can be seen that the price of styrene has been mainly fluctuating in the past three months, with a slight increase in the recent market trend. In July, there were many inspections of styrene plants, and the inventory of styrene ports in Jiangsu Province was 35900 tons, a decrease of 13100 tons from the previous period’s inventory of 49000 tons, a decrease of 26.73%. The inventory of styrene has decreased rapidly, and the unit load is low, leading to an expectation of further decline in supply. The styrene market is trading actively and the market is rising.

3、 Future Market Forecast

Crude oil: International oil prices have fallen. NYMEX crude oil futures contract 08 fell by $0.83 per barrel, or 1.00%, at 82.33%; ICE oil futures contract 09 fell by $0.79 per barrel, or 0.91%, at 85.75. The main contract of China INE crude oil futures, 2408, fell 1.2 to 635.4 yuan/barrel, and fell 9.8 to 625.6 yuan/barrel in overnight trading.

The fundamentals are showing a downward trend in the short term, with sufficient supply on the market. Pure benzene may continue to decline in the short term, and we are waiting to see if the cost and demand sides can improve. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in demand and downstream equipment dynamics on the price of pure benzene.