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SunSirs: Benzol Market Shocked Lower in January 2020

February 07 2020 11:01:35     SunSirs (John)

Price trend

In January 2020, the benzol market fell in shock. The factory price in North China was 4,901.67 RMB/ton at the beginning of the month and 4,700 RMB/ton at the end of the month, down 4.11% monthly.

Benzol commodity index on January 31 was 73.60, unchanged from the previous day, down 44.17% from 131.84 (2013-01-28), the highest point in the cycle, and up 87.52% from 39.25, the lowest point on December 22, 2014. (Note: cycle refers to 2011-09-01 to now).


Analysis review   

Domestic market: in January 2020, benzol market fell in shock, which was mainly affected by the Spring Festival holiday. Before the festival, most of the manufacturers had finished preparing goods. In January, the overall traffic situation was relatively severe, the upstream coking price fell, driving the price of two benzol bids down this month, and the downstream unit started slightly lower overall. In addition to the logistics impact, the benzol price fell by about 200 RMB/ton in total this month.

Industrial chain: pure benzene: the port inventory of pure benzene accumulated near the Spring Festival. With the completion of downstream replenishment of inventory, the completion of traders' replenishment of empty space and insufficient crude oil support, the operation of pure benzene was weak. Downstream: styrene price is stable compared with last week. Due to the downstream preparation before the festival, the shipment of aniline was smooth and the price was increased. Most of the downstream products of pure benzene are in the loss of theoretical production and lack of support for the price of pure benzene.


Market outlook

Affected by the Spring Festival holiday in January, the transportation cost increased, the overall market turnover was limited, and the price fluctuation after the festival was limited.


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