Price trend 

According to the commodity market analysis system of SunSirs, the price of benzene in Shandong Province first fell and then rose last week, with an overall decline. On Monday, the price of benzene was 5,317.67 RMB/ton, and on Friday, it was 5,251 RMB/ton, a decrease of 1.25% within the week.

Market Analysis

Benzene: Last week, the price of benzene in Shandong province first fell and then rose, with an overall decline. On November 20, Shandong refineries offered wide premiums, while international benzene prices rose. This morning, market sentiment in Shandong was good, and the market continued upward trend, but weakened in the afternoon.

Market Forecast:

Crude oil futures: On November 20, international crude oil futures closed lower. The settlement price for the January contract of US WTI crude oil futures was $59.00 per barrel, down $0.25 or 0.4%. The settlement price for the February contract of Brent crude oil futures was $62.80 per barrel, down $0.20 or 0.3%.

International benzene market: On November 20th, FOB Korea rose $9 to $673/ton, CFR China rose $8 to $685/ton. FOB Rotterdam rose $9 to $711/ton, while FOB US Gulf remained stable at 278 cents/gallon.

Overall, the benzene market is expected to fluctuate slightly in the short term, with cautious trading. Investors should observe news regarding costs and demand. Continue to monitor the impact of crude oil and international market trends, benzene and downstream plant operations, and changes in demand on benzene prices.

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