According to the Commodity Market Analysis System of the Business Society, from August 11 to August 18, 2023, the auction price of crude benzene fluctuated and decreased, with 7268.75 yuan/ton at the end of the week and 6968.75 yuan/ton at the end of the week, a weekly decrease of 4.13%.

In terms of crude oil: Since the beginning of this week, crude oil has been declining for three consecutive trading days, with a slight increase on Thursday. As of the 17th, the settlement price of the main contract for WTI crude oil futures in the United States was at $80.39 per barrel, and the settlement price of the main contract for Brent crude oil futures was at $84.12 per barrel. Crude oil has been declining for three consecutive trading days. Recently, due to weak economic data in China, coupled with unstable banking in Europe and America, concerns about the global economic growth prospects have put pressure on crude oil, The crude oil price closed continuously lower. However, the decrease in crude oil supply from OPEC and Russia, as well as the improvement in energy demand, have played a supportive role in oil prices. In addition to the optimistic expectation of China’s oil demand growth, which continues to boost oil prices, during the summer demand peak season in the northern hemisphere, there are still positive factors for international oil prices. Thursday’s closing price rose, and overall, international oil prices are still at a high level.

The factory price of Sinopec pure benzene has increased by a total of 150 yuan/ton during this cycle, with a current implementation of 7750 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7850 yuan/ton, HSBC Petrochemical quoted 7750 yuan/ton, Weilian Chemical quoted 7833 yuan/ton, Xinhai Petrochemical quoted 7850 yuan/ton, and Hongrun Petrochemical quoted 7750 yuan/ton.

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 risen for six consecutive weeks, and the price has slightly declined this week.

From the perspective of the industrial chain, the overall performance of the pure benzene market this week was weak, and the macro market news at the beginning of the week was generally weak. The crude oil market fell for three consecutive days, and the external market of pure benzene fell, dragging down the mentality of the pure benzene market, with prices slightly declining. The overall performance of the downstream is also weak, with some styrene and other devices being shut down for maintenance. The market’s expectation of future demand is weak, dragging down the mentality of the pure benzene market. The overall weak trend of the industrial chain runs, and by Friday, with the strength of styrene, the pure benzene market has slightly rebounded, and market prices have slightly rebounded.

This week, the overall operation of the pure benzene industry chain was weak, and the hydrogenation benzene market followed the decline. Under the influence of upstream factors, the overall auction price of crude benzene this week decreased, with Shanxi region executing 6800-6900 yuan/ton and Shandong region executing 6950 yuan/ton, a decrease of 200-300 yuan/ton compared to last week. In terms of supply, coking enterprises have been boosted by the downward trend in raw material coking coal prices this week. Currently, the cost of entering the furnace has decreased, corporate profits have recovered, and the comprehensive operating rate has significantly increased. The supply of crude benzene during the week was relatively loose compared to the previous period. In terms of demand, the start of construction has slightly declined this week, and the overall demand is still good. However, there is a strong mentality towards holding down the price of raw material crude benzene, and the enthusiasm to participate in the auction has significantly decreased this week. In the future market, the price of pure benzene is currently fluctuating at a high level, and the overall industry chain still has support. However, the downstream price pressure mentality is strong, and the enthusiasm for receiving goods is declining. Without demand support, it is expected that there may be some downward space in the crude benzene market next week.