1. Price trend
According to the commodity market analysis system of SunSirs, the market price of benzene in Shandong Province fluctuated and fell this month. The market price fell in the first half of the month, rose in the middle of the month, and fell in the second half of the month. The price on May 1 was 5708.67 RMB/ton; the price on May 30 was 5752 RMB/ton, down 0.67% from the beginning of the month.
2. Market analysis
Benzene: Today's benzene market price is weak. The price of crude oil fell last night, and the mentality of benzene market players turned pale. In addition, the styrene futures market fell, and the atmosphere in the market was poor, affecting the confidence of the benzene market. Shandong local refineries continue to make concessions and ship mainly today. The East China ports continue to accumulate inventory, and the price fluctuates and falls. Overall, the industry is more cautious, adhering to low-buy operations, low-level short-selling, and paying more attention to low-buy opportunities.
This month, Sinopec's benzene price increased by 200 RMB/ton to 5950 RMB/ton.
3. Market outlook
Crude oil futures: On May 29, international crude oil futures closed down. The settlement price of the main contract of WTI crude oil futures in the United States was $60.94 per barrel, down $0.90 or 1.5%. The settlement price of the August contract of Brent crude oil futures was $63.35 per barrel, down $0.75 or 1.2%.
Benzene foreign market: On May 29, FOB Korea rose by 14 to $714 per ton, CFR China rose by 13 to $730 per ton, FOB Rotterdam stabilized at $695 per ton, and FOB USG fell by 11 to 255 cents per gallon.
Comprehensive forecast: In the short term, the market price of benzene will continue to fluctuate at a low level, and wait and see the news on the cost side and demand side. Continue to pay attention to the impact of crude oil and foreign market trends, benzene and downstream device dynamics, and changes in demand on benzene prices.
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