1、 Price trend
According to the bulk list data of SunSirs, benzene rose in shock this week. On May 13, the price of pure benzene was 8500-9100 RMB/ton (average price 8867.17 RMB/ton), and on Friday (May 20), the price ofbenzene was 8800-9350 RMB/ton (average price 9067.17 RMB/ton). The average price increased by 2.26% compared with last week and 10.71% compared with the same period last year.
2、 Analysis and comment
Crude oil and external prices are high, with strong cost support. The prices of domestic main refineries are rising, the shipments in Shandong are general, and the prices are mainly rising. Due to the decrease of inbound cargo in East China, the port inventory fell to about 87000 tons.
This week, Sinopec raised the price of benzene by 200 RMB/ton to 9300 RMB/ton. Sinopec's price of benzene rose, boosting the market.
In terms of external trading, Asian benzene rose slightly this week. Positive: gasoline prices in the United States are high, the epidemic situation in Asia has improved, demand has increased, and supply is expected to tighten. Bearish: the Federal Reserve's expectation of substantial interest rate hike, combined with the US plan to relax sanctions on Venezuela, dragged down oil prices. On Thursday (May 19), the reference price of benzene in the Korean market was US $1226 / ton, with a year-on-year increase of US $4 / ton, or 0.33%; The reference import price in East China was US $1250 / T, with a year-on-year increase of US $8 / T or 0.64%.
In terms of crude oil, crude oil surged this week. As of May 20, Brent rose $1 / barrel, or 0.9%; WTI rose $2.74/barrel, or 2.48%.
Downstream: styrene: styrene rose this week. The price was 9975 RMB/ton on May 13 and 10262.5 RMB/ton on May 20, up 2.88% from last week and down 3.49% from the same period last year.
Aniline: aniline rose continuously this week. On May 20, the price in Shandong was 10800-11000 RMB/ton; The price of aniline in Nanjing is 11000-11200 RMB/ton, up 3.46% from last week and flat from the same period last year.
3、 Future forecast
In terms of crude oil, in the short term, under the uncertain situation in Russia and Ukraine, the oil price continued to run at a high level. However, under the expectation of substantial interest rate hike by the Federal Reserve, it may drag down the price of crude oil. Continue to pay attention to the impact of geopolitical situation, OPEC + decision on crude oil production, US crude oil and refined oil storage dynamics, global economic conditions and other factors on crude oil prices.
Supported by crude oil, external market and port inventory, the trend of domestic benzene is relatively strong in the short term, but most of the downstream are losing money and the pursuit of growth is weak. The price of main refineries is strong, and there is a short-term price difference with that in Shandong. Continue to pay attention to the price trend of crude oil and external market, domestic logistics and transportation, as well as the impact of benzene and downstream device dynamics on prices.
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