1、 Price trend
This month, the market price of pure benzene in Shandong region first fell and then rose, and overall the price has increased. On August 1st, the price was 7767.67 yuan/ton; On August 28th, the price was 8017.67 yuan/ton, an increase of 3.22% from the beginning of the month.
2、 Market analysis
Pure benzene: This month, the market price of pure benzene in Shandong region first fell and then rose, and overall, the price has increased. At present, the situation between the United States and Iran remains uncertain, and international crude oil futures closed higher. In terms of ports, the inventory of ports in East China is still at a low level, and there has been no significant increase in imported goods in the future. Shandong’s local refining enterprises prioritize stability in their offers and cautious in their transactions. The price of pure benzene for Sinopec’s refineries in East China, South China, and Central China will be implemented at 8250 yuan/ton on August 21st.
This month, Sinopec has raised the price of pure benzene by 350 yuan/ton to 8250 yuan/ton.
3、 Future forecast
Crude oil futures: On August 27th, international crude oil futures closed higher. The settlement price of the October WTI crude oil futures contract in the United States was $83.53 per barrel, an increase of $1.30 or 1.6%. The settlement price of Brent crude oil futures in November was $88.52 per barrel, an increase of $1.58 or 1.8%.
Foreign pure benzene: On August 27th, FOB Korea rose by 15 to 1006 US dollars per ton, and CFR China rose by 15 to 1021 US dollars per ton. FOB Rotterdam fell 29 to 1031 US dollars per ton, FOB USG fell 17 to 443 US cents per gallon.
Overall forecast: The pure benzene market is expected to experience slight fluctuations in the short term. We still need to wait and see more news on the cost and demand sides. 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.