1、 Price trend
According to the data in the business club’s large list, the price of pure benzene on May 3 was 2750-3400 yuan / ton (average price: 2960 yuan / ton); on Saturday (May 9), the price of pure benzene was 3100-3550 yuan / ton (average price: 3270 yuan / ton), up 10.47% from last week.
2、 Analysis and comment
1. Product: the focus of domestic pure benzene market is stronger this week, boosted by the rise of crude oil and external market. Sinopec raised the listing price of pure benzene twice this week, with a total increase of 350 yuan / ton to 3100 yuan / ton. The listing price of pure benzene on Wednesday was 2750-3400 yuan / ton (average price 2960 yuan / ton); the listing price of Sinopec’s pure benzene on Wednesday (6th) was increased by 200 yuan / ton, and the listing price of domestic pure benzene was increased by 2950-3500 yuan / ton (average price 3120 yuan / ton); the listing price of Sinopec’s pure benzene on Saturday (9th) was increased by 150 yuan / ton, and the listing price of domestic pure benzene was increased by 3100-3500 yuan / ton (average price 3270 yuan / ton).
| Polyglutamic acid |
3. Outside market: in the first week after the festival, the price of the outside market rose, boosted by crude oil. Singapore’s Vesak festival was held on the 7th, and pure benzene in Asia was closed for the first time. This Friday (May 8), South Korea imported 365 US dollars / ton of pure benzene, up 41.33 US dollars / ton, up 12.77% from April 30; East China imported 385 US dollars / ton of pure benzene, up 44 US dollars / ton, up 12.9% from April 30.
3. Crude oil: in May, countries implemented production reduction agreements to push forward production reduction and achieved certain results. In addition, with the relaxation of blockade measures in many countries, the demand for refined oil has recovered. In the first week after the festival, international crude oil futures rose sharply. However, the market is still affected by the increase of crude oil inventory and the shortage of inventory. Brent rose $5.735, or 29.62%, this week from May 1, while WTI rose $3.88, or 17.41%. Compared with December 31, 2019, Brent decreased by 62.41% and WTI by 56.94%.
4. Downstream industry: styrene rose and fell this week. In the early stage, driven by crude oil and futures, spot prices rose; in the later stage, due to limited support, prices fell. The price of styrene in Shandong on Saturday was 5300 yuan / ton, up 3.92% from last week. The highest price this week is on Thursday, May 7, at 5450 yuan / ton.
During the festival, the price of aniline enterprises decreased. On Friday, the price in Shandong was 4600-4690 yuan / ton, while that in Nanjing was 4600-4820 yuan / ton, down 4.17% per week.
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3、 Future forecast
1. Crude oil: Good: continuous production reduction, crude oil inventory or slow decline; easing blockade measures to boost crude oil demand. Negative: public health events still affect demand and significantly restrict oil prices.
2. In terms of market: downstream enterprises are in a profit-making state as a whole, the plant operation rate is improved, and the demand for pure benzene is increased to a certain extent. At present, crude oil and outer plate have a good prospect, providing support for pure benzene.
It is expected that the pure benzene deposit will continue to rise next week.
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