1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene in the Shandong region has fluctuated and risen this month. On November 1st, the price was 5172 yuan/ton; On November 28th, the price was 5247.67 yuan/ton, an increase of 1.46% from the beginning of the month.
2、 Market analysis
Pure benzene: The price of pure benzene in the domestic market has risen today. The spot market prices in East China are mainly stable, and currently, industry players have positive expectations for the future of pure benzene, with a strong market trend. Recently, the shipment situation in Shandong has been good, and there is good confidence in the market. The prices of local refining enterprises have slightly increased. Sinopec’s refineries in East and South China have maintained a stable price of 5300 yuan/ton for pure benzene, which will be implemented on November 5th. It is expected that the pure benzene market will fluctuate within a certain range in the short term, and actual transactions are subject to negotiation.
This month, Sinopec has lowered the price of pure benzene by 150 yuan/ton to 5300 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On November 27th, international crude oil futures rose. The US futures market is closed for Thanksgiving. The settlement price of Brent crude oil futures for February was $62.87 per barrel, an increase of $0.33 or 0.5%.
Foreign pure benzene: On November 27th, foreign pure benzene: FOB Korea rose 2 to 654 US dollars/ton, CFR China rose 1 to 665 US dollars/ton. FOB Rotterdam stable at $720/ton, FOB US Gulf market closed.
Comprehensive forecast: The pure benzene market is expected to fluctuate within a certain range in the short term, and we will wait and see for 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.
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