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SunSirs: Domestic market dynamics of benzene on May 10

May 10 2022 15:15:51     

Price dynamics: on May 10, Sinopec North China: Qilu Petrochemical offered 8950 RMB/ton, Shijiazhuang refining and chemical offered 8900 RMB/ton;

East China: Yangzi Petrochemical offers 8950 RMB/ton;

South China: the quotation of Hainan refining and chemical industry is 8950 RMB/ton;

Central China: Wuhan ethylene offers 8950 RMB/ton, Changling Refining and chemical offers 8950 RMB/ton;

Others: Dongming Petrochemical offers 8650 RMB/ton, HSBC Petrochemical offers 9000 RMB/ton, Weilian chemical offers 8703 RMB/ton, and Hongrun Petrochemical offers 8900 RMB/ton.

Analysis and comments: in terms of crude oil, Saudi Arabia lowered the official sales price of crude oil sold to Asia and Europe in June, which exacerbated concerns about the demand outlook, coupled with the continuous rise of the US dollar exchange rate, the international oil price fell sharply yesterday.

Crude oil fell sharply yesterday, and the focus of benzene negotiation became softer, driving the price of benzene to weaken. The price of benzene in Shandong fell. Due to the continued decline of port inventory and tight supply in East China, it is expected to support the market, and the decline is limited. Today, the price of benzene in China is 8650-9000 yuan/ton.

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