On September 29, the crude benzol commodity index was 106.91, down 3.63 points from yesterday, down 18.91% from the cycle’s highest point of 131.84 (2013-01-28), and up 250.07% from the lowest point of 30.54 on April 8, 2020. (Note: the cycle refers to 2011-09-01 to now).
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In September 2022, the crude benzene market rose first and then fell. The domestic ex factory price of crude benzene was 6658 yuan/ton at the beginning of the month, and 6665 yuan/ton at the end of the month, with a monthly increase of 0.11%.
Crude oil: In September, crude oil continued to play a long short game, with strong negative market conditions and wide price shocks. The increase in interest rates in Europe and the United States has raised the market’s concern about economic recession and the pressure on crude oil demand, putting pressure on oil prices; However, European winter energy supply risks remain, supporting oil prices. As of September 28, Brent fell by 7.17 dollars/barrel, or 7.43%; WTI fell 7.4 dollars/barrel, or 8.26%.
Macroscopically, the continuous strengthening of the US dollar has put pressure on oil prices. In addition, the risk of economic recession is aggravated by the sharp interest rate increase of the global central bank, which then depresses the fuel demand. In addition, as the refinery entered the autumn overhaul period, the decline in operating rate led to the accumulation of crude oil, and many factors triggered a panic decline in the oil market.
Summary of Sinopec Pure Benzene Price Adjustment (Unit: yuan/ton)
Date., Adjusted Price., Adjusted Amount
September 6., 7750.,+150
September 20., 7850.,+100
In September 2022, Sinopec raised the ex factory price of pure benzene twice, with a cumulative increase of 250 yuan/ton. As of the 30th, 7850 yuan/ton had been implemented.
Other enterprises: Jingbo Petrochemical quoted 7980 yuan/ton, HSBC Petrochemical quoted 7950 yuan/ton, Weilian Chemical quoted 7953 yuan/ton, Xinhai Petrochemical quoted 7950 yuan/ton, Hongrun Petrochemical quoted 8050 yuan/ton.
Industrial chain: looking at the trend chart in September, it can be found that the industrial chain was in an upward trend in most of the whole September, only the price fell at the end of the month. In the middle and first ten days of the month, supported by the double positive effects of crude oil and styrene, pure benzene price shocks acted as the main driver, driving the overall industry chain to improve. The price of hydrogenated benzene in the upstream of crude benzene rose along with that of pure benzene, and the bidding price of crude benzene was continuously raised due to the boost. After entering the middle and late ten days, the crude oil market fell broadly, and the cost support began to weaken. In terms of downstream trend, styrene rose broadly in September and then fell back, while most other commodities rose in price. There was a general demand for goods in the downstream near the small and long holidays. The market procurement was active, and the improvement of the demand side drove pure benzene higher. As the price of pure benzene continues to rise, the market is increasingly afraid of high spirits. After the decline of both styrene and crude oil, the strength of pure benzene support falls back and the price drops. In terms of ports, the inventory of pure benzene at East China ports rose to 64600 tons at the beginning of the month. Later, affected by typhoon weather, the import cargo ships were delayed, and the inventory at the end of the month again fell to a low level. Near the end of the month, the bad news from crude oil and styrene dominated, while the downstream stock preparation was basically ended, the market transaction weakened, and the price fell.
The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall.
Looking at the crude benzol trend chart in September, it can be found that the crude benzol market was in an upward trend for most of the whole September, only the price fell at the end of the month. Since late August, the crude benzol market has risen continuously, and Shandong has risen to 7170 yuan/ton from 6520 yuan/ton in late August, with a cumulative increase of 650 yuan/ton. At the end of September, the bidding price in Shandong fell back to 6810 yuan/ton. In the early stage, crude benzol prices continued to rise due to the multiple positive effects of pre holiday stock, favorable industrial chain and positive market trading. However, after the end of September, the pre holiday goods preparation was basically completed, and the crude oil and styrene were weak. The negative factors still occupied the market. The crude benzol price was significantly reduced in the last bidding in September, and some enterprises were underrated in the bidding at the end of the month. In terms of supply: Coking enterprises have raised and lowered their operating rates in a round this month, and the overall operating rate has not changed much. Crude benzol supply is generally acceptable. In the future market, crude oil rose at the end of the month. In terms of pure benzene inventory, the port may continue to accumulate stock in the near future. The downstream performance is fair in the near future. There is an expectation that new capacity will be put into production in the downstream. In general, the fundamental support remains. It is expected that the price of crude benzene will be stable, moderate and strong after the festival. We will continue to pay attention to the impact of international crude oil market, external market, pure benzene and downstream device dynamics, demand changes, etc. on the trend of the industrial chain.
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