SunSirs: Benzene Welcomed a Good Start
February 08 2022 14:03:09 SunSirs (John)
Toluene price summary
On February 7, Sinopec Group North China: Qilu Petrochemical quoted 8,050 RMB/ton; East China: Yangzi Petrochemical quoted 8,100 RMB/ton; South China: Hainan Refining & Chemical's quotation was 8,100 RMB/ton; Central China: Wuhan ethylene quoted 8,100 RMB/ton.
Others: Dongming Petrochemical offerred 8,200 RMB/ton, Huifeng Petrochemical offered 8,100 RMB/ton, Jincheng Petrochemical offerred 8,330 RMB/ton, Weilian Chemical offerred 8,303 RMB/ton, Xinhai Petrochemical offerred 8,300 RMB/ton, and Hongrun Petrochemical offerred 8,450 RMB/ton
Price trend
Analysis review
In terms of crude oil, data released by Baker Hughes on the 4th showed that the number of active oil rigs in the United States this week was 497, an increase of 2 from the previous month and an increase of 198 year-on-year. The market is worried that the severe cold weather in the United States may lead to the interruption of oil supply, and the geopolitical tension is superimposed, and international oil prices continue to rise.
During the Spring Festival, crude oil rose sharply, which led to the general increase in bulk commodities; coupled with the active purchase of downstream products in Shandong, enterprises shipped smoothly, prices were pushed up, and benzene welcomed a "good start". On the 7th, the price of Sinopec benzene was raised by 400 RMB/ton to 8,100 RMB/ton, and the bottom support was stronger. On the 7th, the price of domestic benzene was 8,050-8,450 RMB/ton.
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