Price Trend
According to the data from the business associations’list, the prices of domestic pure benzene enterprises are generally stable this week. Some enterprises have made small price adjustments. The highest price of pure benzene this week is 4300-4500 yuan/ton.
II. Analytical Review
1. Products: At the beginning of this week, due to the favorable impact of last week’s inventory decline data in East China Port, the overall market climate has improved. As the price of crude oil began to fall sharply in the end of the day, the trading atmosphere of the whole market turned to light and the focus of the negotiations moved down. However, the overall price of pure benzene is strong, and the price of external market is high, which has certain support for the domestic market spot. This week, the mainstream price of pure benzene in the domestic market is around 4300-4500 yuan/ton.
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2. Crude Oil: Oil prices showed a sharp downward trend this week. Concerns about slowing economic growth outweighed OPEC-led production cuts, with Brent and WTI crude oil closing lower for four consecutive trading days.
3. Downstream: This week, the price of aniline downstream of pure benzene is stable, with little impact on the price of pure benzene; this week, the price of acetone is stable; the price of maleic anhydride fell at the beginning of the week, by 0.72%.
4. Outside market: Outside market pure benzene prices in Korea and the Far East market are greatly affected by the fall in crude oil prices, and continue to decline. However, the high price of the external market has certain support for the spot market in the domestic market. The offer was suspended on Thursday due to holiday factors.
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3. Future Market Forecast
1. Crude oil: Next week, oil prices may continue to fall unless the economy recovers.
2. Domestic market: In June, the factory is expected to start maintenance and load reduction.
Considering comprehensively, the pure benzene market will run steadily or weakly next week.