According to the Commodity Market Analysis System of Business Society, from September 8 to September 15, 2022, the ex factory price of hydrogenated benzene in North China increased by 5.75%, from 8400 yuan/ton last week to 8883.33 yuan/ton this week.

In terms of crude oil, international crude oil futures rose significantly on September 14th. The settlement price of the main contract for US WTI crude oil futures was $90.16 per barrel, up $1.64 or 1.9%. This year, WTI reached the $90 level for the first time, reaching a new high since November 2022. The settlement price of the main contract for Brent crude oil futures was $93.70 per barrel, an increase of $1.82 or 2.0%. The main reason is that the expectation of supply tightening has overshadowed concerns about slowing economic growth and increasing US inventory. On a macro level, recent economic data has also shown good performance, with retail sales in the United States growing 0.6% month on month in August, higher than expected growth of 0.2%. Last week, the number of initial claims for unemployment benefits increased to 220000, but lower than the expected 225000. The producer price index (PPI) of final demand in August increased by 0.7% month on month, higher than the expected 0.4% increase. The rebound in economic data indicates strong demand in the United States. In addition, China has recently introduced a series of positive measures. The People’s Bank of China announced on the 14th that it has decided to lower the reserve requirement ratio of financial institutions by 0.25 percentage points on September 15, 2023, which has also played a positive role in boosting market expectations.

Looking at the future, crude oil analysts from Business Society believe that both macro and fundamental factors will support oil prices in the short term. It is expected that oil prices will maintain a strong trend in the expectation of tight supply. However, currently prices are at a relatively high level, and the market should be vigilant against the correction caused by the release of bearish news

The factory price of Sinopec pure benzene has been raised twice in this cycle, with a cumulative increase of 450 yuan/ton during the week. Currently, it is executing at 8800 yuan/ton.

Other companies: Jingbo Petrochemical quoted 8900 yuan/ton, HSBC Petrochemical quoted 8800 yuan/ton, Weilian Chemical quoted 8823 yuan/ton, Xinhai Petrochemical quoted 8900 yuan/ton, and Hongrun Petrochemical quoted 8800 yuan/ton.

According to the Commodity Market Analysis System of Business Society, the price of pure benzene has significantly increased this week. On September 11th, the price of pure benzene was 8045 yuan/ton, and on Friday (September 15th), the price of pure benzene was 8834 yuan/ton, an increase of 13.25% compared to last week and 12.89% compared to the same period last year.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has seen a positive trend in recent times. After ten consecutive weeks of decline, it has continued to rise for six consecutive weeks, slightly falling for three consecutive weeks, and rising by 9.84% this week.

From the perspective of the industrial chain, crude oil prices continued to rise during the week, reaching a high of $90 per barrel, breaking the new high for the year. The styrene market has continued to rise, reaching a new high for the year. Under the joint influence of upstream and downstream factors, the domestic pure benzene market has continuously increased. Sinopec has raised the price of pure benzene by 450 yuan/ton during the week, and it has now reached a high of 8800 yuan/ton. Driven by the sharp rise in the industrial chain, the hydrogenation benzene market continued to rise during the week, with factory prices in the main production areas rising to a high of 8800-8900 yuan/ton.

This week, the hydrogenation benzene market continued to follow the trend of pure benzene, with an increase of 400-450 yuan/ton during the week. There has been little change in supply, with a slight increase in operating rates. In terms of demand, there are plans for starting and stopping downstream devices, but overall changes are limited. The impact of supply and demand factors on the market during the week is almost negligible, and the market mainly follows the trend of the industrial chain. As the National Day holiday approaches, downstream enterprises have stocking demand, and the overall inventory of pure benzene in the industry chain is low. The styrene market is expected to operate at a high level in crude oil, with multiple positive impacts. It is expected that the overall hydrogenation benzene market will operate at a high level in the short term, with a focus on the impact of pre holiday stocking plans on market sentiment.