Price trend
According to the Commodity Market Analysis System of SunSirs, the market price of benzene has fallen this month. Since the beginning of the month, the price of benzene has almost been declining one by one. On March 1st, the price was 7,518 RMB/ton; On March 31st, the price was 6,634.67 RMB/ton, a decrease of 11.57% from the beginning of the month.
Analysis review
Benzene: The domestic benzene market was fluctuating up and down on March 31st. The shipment of local refineries in Shandong has improved, and some manufacturers have raised their prices. Sinopec's refineries in East and South China had stable prices for benzene, with a price of 6,600 RMB/ton. Port traders actively restocked and delivered goods, promoting a positive buying trend in the benzene market. Overall, the industry was cautious and adhered to buying at a low price, filling gaps at a low price, with a wait-and-see attitude and a focus on buying opportunities at a low price.
This month, the price of benzene from Sinopec dropped by 950 RMB/ton to 6,600 RMB/ton.
Market outlook
Crude oil futures: On March 28th, international crude oil futures closed down. The settlement price of the main contract for WTI crude oil futures in the United States was 69.36 US dollars per barrel, a decrease of 0.56 US dollars per barrelor 0.8%. The settlement price of the main Brent crude oil futures contract was 72.76 US dollars per barrel, a decrease of 0.58 US dollars per barrel or 0.8%.
Benzene international market: On March 28th, FOB Korea rose by 6US dollars to 820 US dollars per ton, CFR China rose by 9 US dollars to 836 US dollars per ton, FOB Rotterdam rose by 10 US dollars to 745 US dollars per ton, and FOB Gulf Coast rose by 8 US dollarsto 259 US dollars per gallon.
Overall expectation: In the short term, the market price of benzene will continue to fluctuate and consolidate, and we will wait and see the news on the cost and demand sides. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in benzene and downstream equipment dynamics and demand on the price of benzene.
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