1、 Price trend

 

povidone Iodine

According to the bulk list data of business cooperatives, after the festival, pure benzene rose and fell continuously. On October 1, the price was 7850-8200 yuan/ton (the average price was 7926 yuan/ton); On October 28, the price was 7450-7530 yuan/ton (average price was 7472 yuan/ton), down 5.72% this month and 2.07% compared with the same period last year.

 

2、 Analysis and review

 

Due to the wide rise of crude oil during the festival, the price of pure benzene in Asia has risen, which is good for boosting the domestic pure benzene market. The price of pure benzene has risen. However, with the increase of downstream maintenance, the overall demand side has weakened. In addition, the market of styrene, the main product, has dropped continuously, and the focus of market negotiation has weakened. The downward channel has been opened in the middle of the month. The pure benzene inventory of East China ports rose again in the late ten days, and a large number of ships are expected to arrive at the port in the later period. The industry is bearish on the future market, and the decline at the end of the month expanded.

 

In this month, the price of Sinopec pure benzene was raised twice and lowered four times, down 400 yuan/ton to 7450 yuan/ton (down 450 yuan/ton to 7450 yuan/ton in Hebei and Shandong).

 

In terms of crude oil, due to the OPEC+meeting’s decision to significantly reduce production from November, crude oil rose broadly during the National Day holiday. However, in the context of multi country interest rate hikes, economic data is weak, and oil prices continue to play a game around demand concerns and supply shortages. As of October 28, Brent rose by 7.81 dollars/barrel, or 8.88%; WTI rose by 8.41 dollars/barrel, or 10.58%.

 

Azodicarbonamide (AC foaming Agent)

On the foreign side, the overall trend of pure benzene in Asia in the external market this month was first up and then down, which was boosted by the rise of crude oil in the early stage. On October 28, the reference price of pure benzene in the Korean market was US $843/ton, a month on month drop of US $29/ton, or 3.33%; East China imported pure benzene at 870 dollars/ton, down 40 dollars/ton month on month, or 4.4%.

 

Downstream

 

3、 Future market forecast

 

On the cost side (crude oil), the market is worried about the economic and demand prospects under the background of multi country interest rate increases; However, OPEC+plans to reduce production, and the geopolitical situation still worries about the tension of energy supply. It is expected that the international oil price will continue to play a long short game with a volatile trend. In the future, we will continue to pay attention to the geopolitical situation, the latest production capacity policy of OPEC+, the stock dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.

 

As China is at the high price of pure benzene, the import volume of pure benzene will remain high in the future. Domestically, there are many downstream overhaul devices for pure benzene at present, and the demand remains just in demand. It is estimated that the demand may improve in November. In the later period, it is expected that the second phase of Weilian Chemical and the Zhongwei Guangdong Petrochemical Plant will be put into production, and the supply of pure benzene will increase. On the whole, the short-term market demand is insufficient, and the trend of pure benzene continues to be weak. Continue to pay attention to the impact of crude oil, external market trend, pure benzene and downstream unit dynamics, demand side changes, etc. on the price of pure benzene.

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