1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the market price of pure benzene in Shandong Province has fallen this month. On January 1st, the price was 5268.67 yuan/ton; On January 29th, the price was 6070 yuan/ton, an increase of 15.21% from the beginning of the month.
2、 Market analysis
Pure benzene: The price of pure benzene in the domestic market has risen today. International crude oil futures have risen, and the price of pure benzene in foreign markets has increased, driving confidence in the domestic pure benzene market and encouraging buying. Pure benzene prices continue to rise. Shandong Pure Benzene Refinery is boosted by the rise in oil prices, boosting confidence and leading to a wide range of price increases. The price of pure benzene in Sinopec’s refineries in East and South China has remained stable at 6000 yuan/ton, and will be implemented on January 28th. It is expected that the pure benzene market will operate strongly in the short term.
This month, the price of pure benzene from Sinopec has increased by 700 yuan to 6000 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On January 28th, international crude oil futures rose. The settlement price of the March WTI crude oil futures contract in the United States was $63.21 per barrel, an increase of $0.83 or 1.2%. The settlement price of Brent crude oil futures in April was $67.37 per barrel, an increase of $0.78 or 1.2%.
Foreign pure benzene: On January 28th, FOB Korea rose by 11 to 761 US dollars per ton, and CFR China rose by 12 to 763 US dollars per ton. FOB Rotterdam fell 1 to 916 US dollars per ton, while FOB USG remained stable at 284 US cents per gallon.
Overall expectation: The pure benzene market is expected to operate strongly in the short term, and we will wait and see on 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.