From December 2, 2022 to December 9, the bidding price of crude benzol will rise, at 5556 yuan/ton last weekend and 5607 yuan/ton this weekend, with a weekly increase of 0.92%.
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Crude oil: Some economic data in the United States outperformed expectations, and the possibility of the Federal Reserve’s radical interest rate hike still exists, which suppressed the benefits of OPEC+production reduction and Western sanctions against Russia. The unexpected growth of the US ISM non manufacturing index in November, released on Monday, reflects that the domestic economy is still resilient. The continued economic boom has triggered market concerns about the Federal Reserve’s transition from “dove” to “eagle”, which may disappoint the Federal Reserve’s previous desire to slow down interest rate hikes. The market provided the basis for the Federal Reserve to curb inflation and maintain the monetary tightening path, which affected the crude oil market to decline significantly. The overall global economy is weak, the prospect of energy demand is still not optimistic, and the economic weakness depresses oil prices. On the whole, the price of crude oil fell sharply. International crude oil futures closed lower on December 8. The settlement price of the main contract of US WTI crude oil futures was 71.46 US dollars/barrel, down 0.55 US dollars or 0.76%. The settlement price of the main contract of Brent crude oil futures was 76.15 dollars/barrel, down 1.02 dollars or 1.32%. The market was shrouded in a negative atmosphere, and the oil market was dragged down by the fear of economic recession. The expectation of the Federal Reserve to raise interest rates next week will put pressure on oil prices and weaken energy demand.
Summary of Sinopec Pure Benzene Price Adjustment (Unit: yuan/ton)
Date./Adjusted Price./Adjusted Amount
November 2./7200./- 250/
November 4./7000./- 200
November 22./6800./- 200
November 29./6500./- 300
The ex factory price of Sinopec’s pure benzene will be reduced by 300 yuan/ton on November 29, 2022, and the current price is 6500 yuan/ton.
Other enterprise quotations: Chambroad Petrochemical quoted 6550 yuan/ton, HSBC Petrochemical quoted 6500 yuan/ton, Weilian Chemical quoted 6453 yuan/ton, and Xinhai Petrochemical quoted 6500 yuan/ton.
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The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. The weekly K-bar chart of pure benzene shows that the price of pure benzene has fallen continuously since July, slightly recovered in late August and early September, and fell continuously in October and November.
From the perspective of the industrial chain, the trend of crude oil in the first half of this week was volatile, and the downstream styrene was stronger. With the continuous decline of pure benzene, the downstream purchasing sentiment was boosted. Under the triple influence, the price of pure benzene rose slightly by about 50 yuan/ton. In the second half of the week, as the crude oil weakened again and the downstream styrene market was weak, the overall market sentiment declined, and the price of pure benzene weakened again slightly, down about 50-75 yuan/ton. The downstream gas buying also declined. Overall, the crude oil price fell nearly 10% this week, which had a great impact on the market. However, the recent supply of pure benzene was relatively sufficient, and the downstream wait-and-see sentiment was strong. The price of pure benzene continued to weaken slightly, and the price of hydrogenated benzene basically fluctuated with that of pure benzene, Downward trend is dominant this week.
Crude benzol market rose by a narrow margin this week. The bidding price of domestic mainstream production areas remained within the range of 30-50 yuan/ton as a whole. The price of Shandong, the main production area, was 5580 yuan/ton this week, up 30 yuan/ton from last week. In terms of supply, coke enterprises maintained the original production limit this week, with limited changes in the operating rate, and the overall supply was slightly strained. In the future, it is expected that the changes of the positive and negative factors in the crude benzol market in the near future are limited. It is expected that the price in the future will remain mainly in consolidation operation, with a limited range of fluctuations. In the future, we will focus on the trend of crude oil and styrene and the commencement of the hydrogenation benzene unit.
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