SunSirs: The Market Was under Pressure, CPL Prices Fell (August 1-8)
August 09 2022 10:25:55     SunSirs (John)Price trend
According to the monitoring data of SunSirs, the average domestic liquid CPL market price was 12,500 RMB/ton on August 1, and the average domestic liquid CPL market price on August 8 was 12,000 RMB/ton. CPL prices were down 4.00% this week.
Analysis review
The market price of CPL continued to drop this week. The price of raw benzene was lowered, and the cost support of CPL was weak. The market demand was not good, and the downstream purchased a small amount on demand. The supply in the market was acceptable, the trading volume was low, and the market was still sluggish. As of August 8, the price of Sinopec CPL liquid was 13,200 RMB/ton. Shandong Hualu Hengsheng CPL bulk water price was 12,600 RMB/ton, and the manufacturer's installation capacity is 300,000 tons/year. Shandong Luxi Chemical CPL liquid price was 11,700 RMB/ton, and the manufacturer's production capacity is 300,000 tons/year.
The raw material pure benzene fell weakly this week. This week, the East China port inventory of pure benzene increased by 4,000 tons, and the inventory was still in a tight state. After filling the empty space at the end of the month, the downstream delivery speed slowed down significantly. Coupled with most of the downstream losses, the conflict with high-priced pure benzene increased, the economic downtime increased, and the demand for pure benzene decreased. Due to poor downstream demand, Sinopec lowered the listing price several times, driving the market price to decline continuously. As of August 8, the domestic price of pure benzene was 8,050-8,200 RMB/ton.
Market outlook
SunSirs CPL analysts believe that the current CPL market is mainly negative, and prices continue to fall. With both the cost side and the demand side weak, the downturn is hard to change. It is expected that the market price of CPL will continue to fall in the short term.
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