1、 Price trend
Pure benzene rose slightly this week, according to the data in the business club’s bulk list, while Sinopec continued its price last week. Last Friday, the listing price of pure benzene enterprises was 5700-5850 yuan / ton, and this Friday’s listing price of pure benzene was 5700-5900 yuan / ton, an increase of 0.88% over last week.
2、 Analysis and comment
1. Product: compared with last week, the port inventory of pure benzene continued to decline this week. In addition, the domestic pure benzene spot shortage and other favorable support, the domestic pure benzene price continued to rise in the first half of the week. However, due to Sinopec’s lack of price adjustment guidance in the second half of the week, the market’s rising mentality fell and the price was stable.
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2. Crude oil: crude oil prices rose better this week as the first phase of us China trade reached a text agreement, boosting the oil market atmosphere. WTI was up 2.96% and Brent was up 3.07% compared with December 13.
3. External market: Po in the United States is in short supply, and the factory has increased the starting load of the plant, so the demand for pure benzene has been boosted; in addition, Europe is close to the contract negotiation period, so the external market price of pure benzene is high.
4. Related industries: styrene rose slightly in shock this week, up 0.68%; aniline factory shipments were difficult this week, with prices down (down 3.68%), but cost pressure limited the decline.
3、 Future forecast
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1. Crude oil: the current trade situation is good, forming a bottom support for the crude oil market. Crude oil is expected to continue to rise, but not much.
2. Market: the downstream products of pure benzene need to be soft and the profit is thin, or the market of pure benzene will be limited. In the later stage, it is necessary to pay attention to the start-up load change of downstream and hydrobenzene units.
Comprehensive consideration, it is expected that the pure benzene will be shaken and consolidated next week.
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