SunSirs: Benzol Bidding Prices Was Raised This Week (November 2-6)
November 10 2020 13:48:39     SunSirs (John)From November 2 to 6, 2020, the market price of benzol went up this week. The ex-factory price in North China was 2,562.25 RMB/ton at the beginning of the week and 2,46.25 RMB/ton at the weekend, a weekly increase of 3.52%.
In November 2020, Sinopec's price of pure benzene increased by 150 RMB/ton, and all refineries under its subsidiaries implemented a unified implementation of 3,750 RMB/ton.
Coking companies started well this week, and the sixth round of coke increase basically landed this week, with a cumulative increase of 300 RMB/ton. Coking companies currently have higher profits, coupled with the recent looser environmental protection policies, operating rates of enterprises are high, and the supply of benzol is sufficient. This week, the price of pure benzene and hydrogenated benzene was mainly driven by downstream styrene. Sinopec was listed on the 4th and raised 150 RMB/ton to 3,750 RMB/ton.
In the future, SunSirs believes that the current price increase in the pure benzene market is mostly driven by the rise in downstream styrene and maleic anhydride. This week, styrene has reduced the price boost of pure benzene and hydrogenated benzene. Affected by the increase in raw material costs, downstream profits have decreased, and the supply and demand of pure benzene has been weak. There will be certain upward pressure. It is expected that the market outlook is dominated by consolidation at a high price level.
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