SunSirs: Pure Benzene Continued to Rise by More Than 3% This Week (September 2-6, 2019)
September 09 2019 09:47:15 SunSirs (John)1. the price trend
According to the commodity list data of SunSirs, the price of domestic pure benzene was raised by 100-250 RMB/ton this week. The highest price of pure benzene this week appeared on Friday (September 6), the price was 5300-5550 RMB / ton, up 3.05% from last week.
2.Analysis review
Products: This week, the inventory of pure benzene in East China fell again, and the supply of market resources was tight, which formed a favorable support for the price of pure benzene.
Crude oil: After the international oil price fell sharply this week, it quickly rose. The overall price fell slightly from last Friday. Brent fell 0.62%, and WTI fell 0.79%. Due to the European and American manufacturing data, the market is worried about the global economic weakness, coupled with the impact of trade disputes, the international oil price plummeted. On Wednesday, the situation in the United States and Iraq heated up to increase supply risks, and oil prices rose rapidly.
Related industries: East China Styrene Plant shut down this week, resulting in limited replenishment of hydrobenzene resources in East China, which is good for driving up the price of pure benzene.
External disk: The weak support of the external disk at the beginning of the week led to a cautious attitude in the domestic market. Following the rise of international oil price, the price of pure benzene on the external disk increased. The Asian-American arbitrage window is still open, but the shortage of resources in the early stage has eased and its influence on the market is limited.
3.Market outlook
Crude oil: Concerns about the economic slowdown are still big, and crude oil may fluctuate weakly next week.
Domestic market: Domestic pure benzene supply is tight, and Sinopec currently has an increase forecast.
Considering comprehensively, it is expected that pure benzene will continue to rise next week.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
