Price trend:
According to SunSirs' commodity price analysis system, the price of benzene in Shandong province fell this month. On December 1st, the price was 5,254.33 RMB/ton; on December 26th, the price was 5,187.67 RMB/ton, a decrease of 1.27% compared to the beginning of the month.
Market Analysis
Benzene: The domestic benzene market price remained stable on December 26. Shandong refineries were cautious in their benzene sales, keeping prices mostly unchanged. Spot trading in East China was sluggish, and paper trading was also slow, with most transactions involving closing out existing positions within the month. Sinopec's refineries in East and South China maintained their benzene prices at 5,300 RMB/ton. The benzene market is expected to fluctuate within a range in the short term, with actual transaction prices negotiated on a case-by-case basis.
This month, Sinopec's benzene price remained stable at 5,300 RMB/ton.
Market Outlook
Crude Oil Futures: On December 24th, international crude oil futures remained largely stable. The settlement price for the February contract of US WTI crude oil futures was $58.35 per barrel, a decrease of $0.03 or 0.05%. The settlement price for the February contract of Brent crude oil futures was $62.24 per barrel, a decrease of $0.12 or 0.2%.
International Benzene Market: On December 24th, international benzene prices were as follows: FOB South Korea rose by $2 to $661/ton, and CFR China rose by $2 to $668/ton. FOB Rotterdam remained stable at $739/ton, and FOB US Gulf remained stable at 279 cents/gallon.
Overall forecast: The benzene market is expected to remain relatively stable with some fluctuations in the short term, as market participants await further news regarding costs and demand. Continued attention should be paid to crude oil and international market trends, as well as the dynamics of benzene and downstream facilities, and changes in demand, which will all influence benzene prices.
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