Price trend:

According to the commodity market analysis system of SunSirs, the price of benzene in Shandong Province rose first and then fell last week, with an overall decline. On Monday, the price of benzene was 5,254.33 RMB/ton, and on Friday, it was 5,207.67 RMB/ton, a decrease of 0.89% within the week.

Market Analysis

Benzene: Last week, the price of benzene in Shandong province rose initially and then fell, with an overall decline. On December 11, international crude oil futures closed lower, leading to a bearish market sentiment. Shandong refineries showed weak buying interest and cautious trading, and they continued to slightly lower their offers on December 12.

Market Forecast:

Crude oil futures: On December 11, international crude oil futures closed lower. The settlement price for the January contract of US WTI crude oil futures was $57.60 per barrel, down $0.86 or 1.5%. The settlement price for the February contract of Brent crude oil futures was $61.28 per barrel, down $0.93 or 1.5%.

International benzene market: On December 11, FOB Korea fell $2 to $661/ton, and CFR China fell $2 to $666/ton. FOB Rotterdam rose $2 to $751/ton, and FOB US Gulf remained stable at 283 cents/gallon.

Overall, the benzene market is expected to fluctuate and tend to weaken in the short term, with cautious trading advised. Investors should observe both cost and demand-side developments. Continued monitoring of crude oil and international market trends, as well as the impact of benzene and downstream plant activities and demand changes on benzene prices is crucial.

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