SunSirs: The Hydrogenated Benzene Market Declined Slightly This Week (April 12-16)
April 20 2021 13:53:38 SunSirs (John)
Price trend
From April 12 to 16, 2021, the weekly hydrogenated benzene ex-factory price in North China was lowered. The domestic ex-factory price was 6,575 RMB/ton at the beginning of the week and 6,550 RMB/ton on the weekend, a weekly drop of 0.38%.
This week (April 12-16), the market price of hydrogenated benzene in Shandong region fluctuated slightly, starting at 6,600 RMB/ton at the beginning of the week and 6,550 RMB/ton on weekends, down by 75 RMB/ton.
Analysis review
In April 2021, the price of Sinopec's pure benzene listing was increased four times. As of the 16th, it was 7,000 RMB/ton, of which Qilu Petrochemical was 6,800 RMB/ton, and this week, it was increased by 150 RMB/ton.
At the beginning of the week, dragged down by the poor performance of the downstream styrene of pure benzene, the domestic market price of pure benzene mainly declined, and the price of hydrogenated benzene was adjusted downward. Near the weekend, as the crude oil market continued to exert strength, styrene futures prices strengthened, and the price of pure benzene went up. On Thursday, Sinopec's ex-factory price of pure benzene increased, bringing better support to the market. The market price of hydrogenated benzene rose slightly.
Market outlook
SunSirs believes that the international crude oil price is strong on the fundamentals, and Sinopec's pure benzene has once again raised its ex-factory price, which is a good support for the fundamentals of the hydrogenated benzene market. It is expected that the hydrogenated benzene market will have some room for supplementary growth this week.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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