1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene in the Shandong region fluctuated slightly this week. On Monday, the price of pure benzene was 5212 yuan/ton, and on Friday it was 5202 yuan/ton, with a price drop of 0.19% during the week.
2、 Market analysis
Pure benzene: This week, Sinopec’s refineries in East and South China have lowered the price of pure benzene by 150 yuan/ton, and implemented a price of 5300 yuan/ton. Today, the market price of pure benzene remained weak and stable. Shandong’s pure benzene refineries have had poor shipments for two consecutive days, and local refining companies have lowered their quotations. Overall, the consumption of pure benzene has shown weakness, and the trading atmosphere on the exchange is average.
Downstream aspects
3、 Future forecast
Crude oil futures: On November 6th, international crude oil futures closed down. The settlement price of the December WTI crude oil futures contract in the United States was $59.43 per barrel, a decrease of $0.17 or 0.3%. The settlement price of Brent crude oil futures for January was $63.38 per barrel, a decrease of $0.14 or 0.2%.
Foreign pure benzene: On November 6th, foreign pure benzene: FOB Korea fell 4 to 646 US dollars/ton, CFR China fell 3 to 664 US dollars/ton. FOB Rotterdam has increased by $1 to $675 per ton, while FOB US Gulf has increased by $1 to $246 per gallon.
Overall forecast: Short term pure benzene prices are expected to fluctuate slightly, 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.