SunSirs: Hydrogenated Benzene Market Fell Down This Week (January 18-22)

Price trend

The Hydrogenated Benzene Commodity Index was 46.16 on January 24, the same as previous day, a decrease of 54.75% from the cycle highest point of 102.01 points (2014-01-09), and an increase of 53.92% from the lowest point of 29.99 points on April 7, 2020.  (Note: Period refers to 2013-12-01 to present).

This week (January 18-22), the market price of hydrogenated benzene in Shandong was mainly down, starting at 4,175 RMB/ton at the beginning of the week and at 4,350 RMB/ton on weekends, down 175 RMB/ton.

Analysis review  

In January 2021, Sinopec's pure benzene price was raised twice, with a cumulative increase of 250 RMB/ton. As of the 25th, all refineries under its subsidiaries implemented a unified implementation of 4,650 RMB/ton.

This week, the pure benzene market fluctuated mainly. Although the crude oil and external markets were favorable and supported, the downstream raw material inventory was high, the enthusiasm for entering the market was not high, and the demand was lower. The market in East China was weak, and the market in North China was under pressure. After the price of Sinopec's pure benzene rose, it was temporarily operating stably. As of the 21st, the price was 4,650 RMB/ton. The crude benzene bidding price in Shandong has been under pressure this week, and the price was 3,000 RMB/ton.

In the downstream aspect, the recent operating rate of hydrogenated benzene companies was about 60%, and the overall increase was about 2% from last week. The demand for crude benzene was good.

Market outlook

In the market outlook, SunSirs believes that the current overall negative momentum for pure benzene is insufficient. Coking companies have started well and the supply of crude benzene is stable. The market outlook still needs to pay attention to the market trend of pure benzene and the demand for downstream hydrogenated benzene.

If you have any questions, please feel free to contact SunSirs with suooort@sunsirs.com.