Price trend

According to the data of SunSirs, benzene continued to be good this week, rising rapidly, and Sinopec raised its listing price twice. The price of benzene listed on last Friday was 5,250-5,450 RMB/ton, and the price of benzene listed on this Friday was 5,700-5850 RMB/ton, an increase of 7.74%.

Analysis review        

Product: Benzene port inventory continued to decline this week, coupled with limited domestic benzene spot supply, which is positive for benzene prices.

In terms of crude oil: The OPEC will deepen production cuts and trade prospects are favorable. Crude oil prices fluctuated higher this week. Compared with that on December 6, the WTI increase of 1.49% and the Brent increase of 1.19%.

Outer disk: The Asian benzene market was forced to empty in January this week, causing the center of gravity of Asian benzene prices to move upwards, driving domestic benzene prices higher.

Related industries: this week's styrene parabola trend, overall up 0.9% compared with last week; this week's downstream aniline demand is fair, mainly affected by the cost side, rose passively, up 8.51%. However, the overall profit of downstream benzene enterprises is low, which limits their growth.

Market outlook

Crude oil: the progress of the trade agreement smoothly boosted the market, and it is expected that oil prices will be boosted next week.

Market: at present, the domestic spot supply of benzene is tight, which has certain support for the market in the short term. But this week's rally was too fast and downstream pressure surged. It is heard that Zhejiang Petrochemical had the export of benzene in December. In addition, the situation of short selling was postponed, and the price of benzene in the later period was negative.

Comprehensive consideration, it is expected that the benzene will be stable and weak in operation next week.

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