Price trends:
The crude benzol commodity index on July 12 was 62.64, unchanged from yesterday, down 52.49% from the cyclical peak of 131.84 points (2013-01-28), and up 59.59% from the lowest point of 39.25 on December 22, 2014. (Note: Period refers to 2011-09-01 to date).
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II. Market analysis:
Domestic market: The domestic crude benzene market has been rising since June, mainly boosted by the sharp rise in the external market of pure benzene. Sinopec has raised its listing price several times, up to 5250 yuan/ton on the 12th day. In addition, the inventory of pure benzene ports has been declining for a long time. Market participants are still bullish on the future market of pure benzene. Market demand: In recent years, the starting rate of hydrobenzene enterprises is gradually rising, many decoration projects are started, or some enterprises have restart plans, the demand for crude benzene will increase, boosting the crude benzene market. In terms of market supply, coking enterprises have started construction more steadily in the near future, with stable supply, high initiative and stable supply.
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Industry Chain: Crude Oil: Oil prices showed a slight rebound after falling this week. Overall, Brent fell nearly 2% compared with last week, and WTI fell more than 4%. Oil prices fell early in the week on fears of a slowdown. On Wednesday, news of three consecutive weeks of decline in U.S. crude oil inventories and a nine-month extension of OPEC’s cut-off agreement boosted oil prices. Oil prices rose twice this week. After the second increase, downstream conflicting sentiment was strong and pure benzene speculation eased. Pure benzene: Pure benzene market enthusiasm is high. Monday was the beginning of the month, as the contract delivery task was completed at the end of June, the enthusiasm for market surge eased. On Tuesday, news began that South Korea exported only 20,000 tons of pure benzene to China in June, and the stock of East China Port declined, boosting the market, the market sentiment was strong.
3. Trend forecast:
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Recent positive factors have been released centrally. Most of the pure benzene market is optimistic. Inventories in East China continue to decline. Hydrobenzene companies in downstream areas have started construction. It is expected that the crude benzene market will still have room for growth next week, with an increase of about 100 yuan/ton.