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SunSirs: Pure Benzene Rebounded Slightly This Week (11.4-11.8)

November 11 2019 11:24:49      (Daisy)

Price Trend

According to data from SunSirs bulk commodities data base, pure benzene begin to rebound slightly on Thursday. The price of pure benzene on last Friday fell from RMB 5,000-5,400 yuan/ton to RMB 5,050-5,400 yuan/ton on this Friday. It is a 0.38% increase.

Market Analysis

Products: The negations atmosphere of pure benzene among East China goes strong, which drives market to go strong. The supply of spot good is little tight and concentrated. The stock in the port is lower than 100,000 tons. The up price of pure benzene is supported.  

Crude Oil: The price of International oil shoes a trend of rising first and then failing in this week. The overall price is higher than that last Friday. Compared with 1st November, WTI rose by 4.01%, Brent rose by 2.51%. The key attribute of oil price rising is better manufacturing data, which is a good driver for market.

Related Industries: The downstream styrene have an increase after dropping this week, ending in a 0.88% increase compared with last week. Aniline have an big drop after increasing this week, ending at a 1.22% decline from last week.

Market Forecasting

Crude Oil: The macro environment will provide some support for oil price next week.

Domestic Market: At present, the supply pressure of pure benzene is relatively large, and the price has certain support. However, the downstream demand is weak, associated with the low demand for replenishment at the beginning of the month. The market lacks sustained upward driver.

Overall, it is expected that the pure benzene will mainly shock next week.

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

 

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