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SunSirs: The Crude Benzene Market Fell Slightly by 0.32% This Week (November 4 - November 8)

November 12 2019 10:43:38     SunSirs (John)

Price trend

The crude benzene commodity index on November 8 was 64.70, which was the same as yesterday, which was 50.93% lower than the highest point of 131.84 points (2013-01-28) in the cycle, which was 64.84% higher than the lowest point of 39.25 points on December 22, 2014. (Note: The period refers to 2011-09-01 to date).

 

Analysis review

This week (11.4-11.8), the domestic crude benzene market was slightly lower. The average price in the domestic market was 4145 RMB/ton at the beginning of the week and 4131.67 RMB/ton at the end of the week, down 0.32%.

Domestic market: the crude benzol Market was slightly lower this week, down by about 100 RMB/ton. As of Friday, Shanxi's offer was 3850-3950 RMB/ton, and Shandong's offer was 4150-4200 RMB/ton. Affected by the decline of pure benzene first and then the rise, the transaction in the spot market of pure benzene this week was limited, which puts pressure on the crude benzene market. The bidding price in the main production areas rose and fell half this week, and the price fluctuated slightly. Although coking enterprises have strong price sentiment, but the operating rate of downstream hydrogenated benzene enterprises has declined, with limited support for crude benzene.

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

 

Market outlook

Looking at next week, the macro environment is good to provide support for oil prices. The supply pressure of pure benzene is relatively high, and the price has certain support. However, the downstream demand is weak, coupled with the low demand for replenishment at the beginning of the month, the market lacks sustained upward momentum, and the market support is insufficient. In the short term, the crude benzene industry chain will be dominated by weak shocks.

 

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