Price trend

According to the data monitoring of SunSirs, the price of pure benzene rose this week after falling. The price of pure benzene fell in 5050-5400 RMB/ton last Friday, and the price of pure benzene was 5250-5400 RMB/ton this Friday, up 0.18% compared with last Friday.

Analysis review        

Product: At the beginning of the week, pure benzene market demand was weak and the price was lower. However, the reduction of hydrogenated benzene production led to the decrease of supply, driving the price of pure benzene higher in North China. Tight spot supply and drop in port inventory led to short covering, which drove the price of pure benzene to continue to rise.

Crude oil: This week's crude oil range fluctuated, affected by economic data, trade negotiations and US crude oil inventories. WTI rose by 1% and Brent rose by 2.46% compared with that on November 8.

Related industries: styrene fell 2.63% this week; aniline rose 9.96% this week. The sluggish downstream market limits the increase in pure benzene.

Market outlook

Crude oil: Next week, oil prices may continue to fluctuate.

Domestic market: the supply and demand of coking industry has improved, the support of hydrobenzene is strong, and the subsequent driving force is still strong. In addition, the port inventory is low, and the spot market supply is tight, which has strong support for the bottom of pure benzene. But at present, the profit of downstream enterprises is small, the demand is weak, and the increase is limited.

Overall, it is expected that pure benzene will rise slightly in the later period driven by the market.

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