According to the Commodity Market Analysis System of Business Society, from April 7th to April 12th, 2024, the ex factory price of hydrogenated benzene in North China first rose and then fell. Last week, it was at 8533.33 yuan/ton, and this week it was at 8633.33 yuan/ton, up 1.17%.
In terms of crude oil: Although US crude oil inventories have increased and the Federal Reserve may delay interest rate cuts, concerns about the Middle East situation have not dissipated, and international oil prices have rebounded after falling. On April 11th, international crude oil futures closed lower. The settlement price of the main WTI crude oil futures contract in the United States was $85.02 per barrel, a decrease of $1.19 or 1.7%. The settlement price of the Brent crude oil futures main contract was $89.74 per barrel, a decrease of $0.74 or 0.8%.
On April 7, 2024, Sinopec’s listed price for pure benzene was increased by 150 yuan/ton, with a current implementation of 8800 yuan/ton.
Other companies: Jingbo Petrochemical quoted 8680 yuan/ton, HSBC Petrochemical quoted 8800 yuan/ton, Weilian Chemical quoted 8493 yuan/ton, Xinhai Petrochemical quoted 8680 yuan/ton, and Hongrun Petrochemical quoted 8800 yuan/ton.
According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly decreased this week. On April 8th, the price of pure benzene was 8723 yuan/ton, and on Friday (April 12th), the price of pure benzene was 8712 yuan/ton, an increase of 3.02% from last week and 16.54% from the same period last year..
K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has seen more ups and downs in recent times.
In terms of the industrial chain, this week’s geopolitical warming has driven up crude oil prices. After the holiday, the pure benzene market followed suit, while the hydrogenated benzene market briefly followed suit. In the later part of the week, crude oil prices declined, and with news of maintenance of downstream devices within the week, the market is expected to have weak demand in the future. The hydrogenated benzene market has given up its gains, and the ex factory price has retreated to pre holiday levels. Currently, most of them remain at 8600 yuan/ton.
This week, the hydrogenated benzene market first rose and then fell. In terms of supply, the main domestic equipment started operating relatively steadily this week, and the overall supply of hydrogenated benzene was relatively stable. In terms of demand, some downstream styrene and phenol units will shut down during the week, and some units have revealed maintenance plans. The market’s future demand is expected to decline, leading to a decline in the hydrogenated benzene market over the weekend. Overall, there is still support for the crude oil market at the macro level, and the subsequent trend is relatively high. As the May Day holiday approaches, there is a demand for stocking in the downstream market. It is expected that the downward space of the hydrogenated benzene market will be limited in the short term, with narrow adjustments being the main focus.
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