1、 Price trend
According to the business club’s big list data, pure benzene fell at the beginning of the week and rose rapidly in the later period. On November 1, the listed price of pure benzene was 3350-3650 yuan / ton (with an average price of 3575 yuan / ton); on this Sunday (November 8), the listed price of pure benzene was 3590-3800 yuan / ton (with an average price of 3710 yuan / ton), which was 135 yuan / ton or 3.78% higher than last week.
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2、 Analysis and comment
At the beginning of the week, the decline trend of last week continued, and pure benzene in Shandong continued to fall. On Wednesday, Sinopec’s listed price of pure benzene increased by 150 yuan / ton to 3750 yuan / ton, with stronger support at the bottom. In addition, the downstream styrene continued to rise strongly, driving the price of pure benzene to rise rapidly.
In terms of external market, on Friday (November 6), the import of pure benzene from South Korea was 480 US dollars / ton, up 29.67 US dollars / ton, or 6.59% compared with October 30; pure benzene imported from East China was 487 US dollars / ton, up 28 US dollars / ton, or 6.1% compared with October 30.
In terms of crude oil, this week’s market focus turned to the US presidential election, and oil prices rebounded. Compared with October 30, Brent rose $2.095 per barrel, or 5.79%, while WTI rose $1.34 per barrel, or 3.71%. Compared with December 31, 2019, Brent decreased by 42.63%, and WTI decreased by 38.31%.
Downstream: driven by terminal downstream demand and downstream high prices, styrene continued to rise sharply this week. On November 8, the price of styrene in Shandong was 7700 yuan / ton, up 650 yuan / ton or 9.22% over last week.
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This week, aniline Market is stable and small. On November 8, the price of aniline in Shandong was 6500-6700 yuan / ton, and that in Nanjing was 6700-6800 yuan / ton
3、 Future forecast
In terms of crude oil, the surge of epidemic cases in Europe and the United States has dragged down the oil price and kept the oil price under pressure.
Styrene basically faces good, short-term market is still upward, but chasing up styrene sentiment weakened. In addition, the port inventory of pure benzene is high, and the fundamentals are weak. Next week, the price of pure benzene may be slightly reduced. Pay attention to the planned parking of the downstream in the near future, and the demand may decrease.
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