Brief description of the trend of pure benzene in May (May 1-May 31, 2024)

1、 Price trend


According to the commodity market analysis system of Shengyishe, the price of pure benzene has slightly increased this month. Since the beginning of the month, the price of pure benzene has been rising, and after mid month, the price has remained stable. The price continues to rise towards the end of the month. On May 1st, the price was 8672 yuan/ton; On May 31st, the price was 9120 yuan/ton, an increase of 5.16% from the beginning of the month and 39.84% from the same period last year.


2、 Analysis and Review


Pure benzene: Yesterday, news of the East China factory speculating on the Lai plant continued to drive up prices, while Shandong Refinery reported an increase in prices. After the price increase, the market followed up normally, but due to low inventory levels in multiple factories, actual transactions fell short of expectations. The night trading of pure benzene reached around 9380 yuan/ton, and due to the completion of delivery in May, it is expected that there is a high possibility of consolidation in the market today.


This month, the price of Sinopec pure benzene has risen to 9100 yuan/ton.


Downstream aspect


3、 Future Market Forecast


Crude oil: Although commercial crude oil inventories in the United States have decreased, the increase in gasoline inventories has raised certain concerns, leading to a decline in international oil prices. NYMEX crude oil futures contract 07 fell by $1.32 per barrel, or 1.67%, at 77.91; ICE oil futures contract 07 fell $1.74 per barrel, or 2.08%, at 81.86. The main contract of China INE crude oil futures, 2407, fell 0.4 to 616.9 yuan/barrel, and fell 13.8 to 603.1 yuan/barrel in overnight trading.


Pure benzene overseas: FOB Korea increased by $12 to $1098/ton, CFR China increased by $12 to $1116/ton, and FOB Southeast Asia increased by $12 to $1081/ton. FOB Rotterdam stabilized at $1195 per ton, FOB USG stabilized at 399 cents per gallon.


The fundamentals are showing an upward trend in the short term, with sufficient supply on the market. Pure benzene may continue to rise in the short term, and we are waiting to see if the cost and demand sides can improve. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in demand and downstream equipment dynamics on the price of pure benzene.