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SunSirs: The Hydrogenated Benzene Market Fluctuated This Week (11.4th -11.8th )

November 12 2019 13:42:56     SunSirs (Daisy)

Price Trend

On 11th November, the hydrogenated benzene commodity index was 56.11, which was the same as yesterday. It was 45.00% lower than the highest point at 102.01 in the period (since 9th January 2014), and was 25.92% higher than the lowest point at 44.56 since 31st August 2015 (Note: The period refers to 1st December 2013).

Market Analysis

Domestic market: This week, hydrogenated benzene enterprises fell slightly. Up to Friday, the East China region was around RMB 5,150 yuan / ton, and the Shandong region was around RMB 4,975 yuan / ton, dropping by RMB 50 yuan / ton from last week. This week, the pure benzene external disk first rose and then fell. The price of pure benzene and its downstream products fell. The turnover of pure benzene industry chain was not good, which had a certain impact on the hydrogenated benzene market. In addition, the operation rate of hydrogen benzene enterprises decline to a certain low level. The market sentiment was weak, and the pressure of hydrogenated benzene enterprises still existed. Some manufacturers were quite pricey. However, the prices of downstream products were lower in the latter half of the week, and the market sentiment was poor. It is hard for hydrogenated benzene to increase its price.

Industry chain: crude oil: pure benzene: This week, the atmosphere of pure benzene in East China is stronger, driving the market to improve. The spot supply of pure benzene market was tight and concentrated. The port inventory continued to be below 100,000 tons, which supported the price of pure benzene

Market Forecasting

Next week, the crude oil market will be boosted by the macro-optimal market, which will boost the hydrogenated benzene market as well. The pressure of pure benzene suppliers is relatively large, but the downstream demand is weak. The market lack in powerful support and it will mainly focus on trading sideways. Therefore, it will be difficult for hydrogenated benzene to increase its price allowing some wiggle room.

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