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SunSirs: Hydrogenated Benzene Market Slightly Declined this Week (March 2-6)

March 10 2020 10:56:35     SunSirs (John)

Price trend

The hydrogenated benzene commodity index on March 8 was 54.45, which was the same as the previous day. It was 46.62% lower than the highest point of the cycle at 102.01 (2014-01-09) and an increase of 22.19% from the lowest point of 44.56 on August 31, 2015. . (Note: Period refers to 2013-12-01 to now).

 

Analysis review   

Domestic market: This week, the start of hydrogenated benzene companies declined slightly, the sales of manufacturers were general, the pressure on enterprises was large, and the operating rate was about 50%. As of Friday, the market price of hydrogenated benzene in Shandong was around 4,800 RMB/ton, and the price fell slightly. Hydrogenated benzene companies currently have significant cost pressures and average shipments. The prices of downstream styrene and aniline products were lowered, and shipments were average.

Industrial chain: In terms of crude oil: OPEC's earnings at the beginning of the week pushed forward production cuts, and the price of oil rose sharply. But in the later period, it was reported that Russia still had differences, market worries increased, and oil prices fell. Compared with February 28, Brent rose 2.01% and WTI rose 2.49%. Compared with the beginning of the year, Brent fell 22.86% and WTI fell 24.21%.Pure benzene: Pure benzene has a weak focus this week. On Tuesday, Sinopec's pure benzene price was cut by RMB 200 / t to RMB 5,150 / t. In the northern region, the price reduction and inventory clearance were carried out in the early stage. At present, the pressure on inventory has decreased, and the market has begun to rise. Downstream: The downstream styrene fluctuated and fell. The price on Friday was 6,600 RMB/ton, a decrease of 1.49% from last week. In order to promote shipments, aniline has lowered prices. The price in Shandong is 6,700 RMB/ton and the price and in Nanjing is 6,900 RMB/ton.

 

Market outlook

Social and public events still have a large impact abroad. In addition, there are still uncertain factors in OPEC's reduction in production, and the momentum for rebound is small. In terms of pure benzene, prices in East China are under pressure, and pure benzene still has room to go down. Sales in the downstream region are general. Some units in Shandong have not yet started construction. It is expected that the price of hydrogenated benzene will be mainly stable.

 

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