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Hydrogenated benzene News
SunSirs: Hydrogenated Benzene Market Fell by 7.14% in October 2019
November 05 2019 15:47:11(Daisy Wong)

Price Trend

In October 2019, the hydrogenated benzene market tended to be lower. The ex-factory price in North China was 5,600 RMB/t at the beginning of the month and 5,200 RMB/t at the end of the month, with a monthly decline of 7.14%.

 

On 31st October, the hydrogenated benzene commodity index was 57.40, which was the same as yesterday. It was 43.73% lower than the highest point at 102.01 in the period (9th January 2014), and was 28.82% higher than the lowest point at 44.56 on 31st August 2015 (Note: The period refers to1st December 2013).

 

Market Analysis

Domestic market: The hydrogen benzene market fluctuated lower this month, with a monthly decline of 7.14%. It fell sharply at the beginning of the month and weakened at the end of the month. At the beginning of the month, it was mainly down by the crude benzene market. The pure benzene external disk and international oil prices continued to fall. China Petroleum and Chemical Corporation (Sinopec) listed pure benzene price to 5600 RMB/t by a decrease of 150 RMB/t. Market had a relatively strong bearish sentiment. The bidding price in the main producing areas has fallen sharply. The stock of pure benzene did not go smooth to downstream. Due to several negative factors such as the narrowing profit margin of hydrogenated benzene enterprises, the price of the post-holiday trading day fell sharply. In the middle of the month, with the good news that the rise of crude oil and pure benzene outside the market has been faded, fundamental negative effects that downstream equipment were in maintenance gradually appeared. Downstream players’ resistance to high prices was heating up, and the overall of trend of hydrogenated benzene market tends to sort out.

 

Industry chain:

Crude oil: This month's crude oil fluctuated at the end of the month. The WTI oil price fell by 1.52% compared with last month, and the Brent oil price fell by 2.1% compared with last month. Negative factors: trade risk, geopolitical situation, market concerns about the slowdown in demand for crude oil.

Good news: OPEC continues to insist on reducing production and making good progress in trade negotiations.

Pure benzene: At the beginning of this month, due to the National Day, the environmental protection inspection limit was strict. During the National Day, transportation was limited, and pure benzene enterprises began to drop prices. After the holiday, the hydrogenation benzene plant resumed work, and the supply increase; the coking industry continued to break through the new low, causing a greater impact on pure benzene.

 

Market Forecasting

In the future, international oil prices will continue to consolidate. Pay attention to the post-OPEC production reduction efforts, consultation progress and various risk issues. The performance of pure benzene external disk is not good, and the market lacks favorable motivator. It is expected that hydrogenated benzene will be weakly shaken.

 

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

 

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