According to the Commodity Market Analysis System of the Business Society, the auction price of crude benzene for the week from October 6 to October 13, 2023 was lowered, with 6972.5 yuan/ton last weekend and 6753.75 yuan/ton this weekend, a decrease of 3.14%.

In terms of crude oil: This week, the crude oil market rose first and then fell, with a high volatility trend being the main trend. On October 12th, international crude oil futures showed mixed ups and downs. US WTI crude oil futures closed higher, with the main contract settlement price at $82.91 per barrel, up 0.58 US dollars or 0.7%. Brent crude oil futures fell, with the main contract settlement price at $86.00 per barrel, a decrease of $0.18 or 0.2%.

The factory price of Sinopec pure benzene has been reduced by 350 yuan/ton during this cycle, and currently it is priced at 7850 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7700 yuan/ton, HSBC Petrochemical quoted 7850 yuan/ton, Weilian Chemical quoted 7703 yuan/ton, Xinhai Petrochemical quoted 7700 yuan/ton, and Hongrun Petrochemical quoted 7850 yuan/ton.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has seen a positive trend in recent times. After ten consecutive weeks of decline, it has risen for six consecutive weeks, slightly declined for three consecutive weeks, and fell for four consecutive weeks after two consecutive weeks of upward trend.

From the perspective of the industry chain, crude oil rose first and then fell after the holiday, affecting the market mentality of the pure benzene industry chain. However, some downstream units may have maintenance plans after the holiday, and the market expects weak demand in the future. Sinopec has lowered the listing price of pure benzene to 7850 yuan/ton twice in a row within the week, with a cumulative decrease of 350 yuan/ton. The spot market for pure benzene has continuously declined, while hydrogenation benzene has followed suit, with a weekly decline of 200-350 yuan/ton.

This week, the overall performance of the pure benzene market was weak, while the hydrogenation benzene market followed a decline. The overall decline in the industrial chain led to a decline in the auction price of crude benzene this week. The Shandong region executed a price of 6700 yuan/ton, with a decrease of 260 yuan/ton. In terms of supply, the price of raw material coke coal has increased, and the cost of coke enterprises entering the furnace is relatively high. Coupled with some regional production restriction plans, recent coke enterprises have slightly decreased their production, and the supply of crude benzene is slightly tight. In terms of demand, the operating rate of hydrogenation benzene enterprises has slightly decreased recently, but the overall change is limited. There is still a demand for crude benzene, and some enterprises will replenish their inventory as needed after the holiday. In the future, crude oil is expected to fluctuate and decline, with a strong atmosphere in the market. Downstream demand is expected to weaken, highlighting bearish factors in the market. It is expected that the hydrogenation benzene market will be mainly weak next week.