1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene in the Shandong region has risen this week. On Monday, the price of pure benzene was 5303.33 yuan/ton, and on Friday it was 5476.67 yuan/ton, with a 3.27% increase in price during the week.
2、 Market analysis
Pure benzene: The market price of pure benzene in Shandong has risen this week. Yesterday, international crude oil futures experienced a sharp decline, and the market sentiment was bearish. The overall buying momentum of Shandong Refinery was weak, and trading was cautious. The price of Huadong pure benzene remained stagnant and consolidated, with a slight decline; Shandong’s local refineries are stabilizing their prices today.
This week, Sinopec’s price has increased by 200 yuan/ton to 5500 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On January 15th, international crude oil futures fell sharply. The settlement price of the March WTI crude oil futures contract in the United States was $59.08 per barrel, a decrease of $2.80 or 4.5%. The settlement price of Brent crude oil futures for March was $63.76 per barrel, a decrease of $2.76 or 4.1%.
On January 15th, FOB Korea fell by $8 to $699 per ton, CFR China fell by $6 to $701 per ton, FOB Rotterdam fell by $10 to $797 per ton, and FOB USG fell by $1 to $285 per gallon.
Overall expectation: The short-term pure benzene market is weak and volatile, with cautious trading. Observe the cost and demand side news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.