1、 Price trend:

In March 2020, the crude benzene market continued to decline. The factory price in North China was 4231.67 yuan / ton at the beginning of the month and 2668.33 yuan / ton at the end of the month, with a monthly drop of 36.94%.

On March 30, crude benzene commodity index was 41.79, unchanged from yesterday, down 68.30% from 131.84 (2013-01-28), the highest point in the cycle, and up 6.47% from 39.25, the lowest point on December 22, 2014. (Note: cycle refers to 2011-09-01 to now).

2、 Market analysis:

Domestic market: Crude Benzol market continued to decline in March 2020. Crude benzol market fell at the beginning of the month due to the sharp decline of crude oil and the continuous decline of pure benzene price. Around the middle of the year, the demand for downstream products of pure benzene has always been soft, the listing price of Sinopec’s pure benzene has been continuously lowered, the domestic market has fallen, and crude benzene has been driven downward. In the middle and late ten days, the situation in foreign countries was not optimistic. The external market of pure benzene fell to a low level. Sinopec’s listing of pure benzene was reduced to 2900 yuan / ton, which was lower than 5950 yuan / ton before the Spring Festival. The crude benzene market has always followed the trend of pure benzene, and the monthly decline of crude benzene market reached 36.94%.

3、 Trend Forecast:

Crude oil fundamentals are weak. Although the United States proposes economic stimulus plan, overseas situation is not optimistic. Oil prices continue to be under pressure. The operating rate of aniline styrene in the downstream decreased, and the pure benzene inventory in the port area was high and the supply was sufficient. The demand of downstream hydrogenated benzene enterprises is weak, and it is expected that the aftermarket atmosphere of crude benzene market will be empty.