SunSirs: Domestic Pure Benzene Market Dynamics on February 8
February 09 2023 14:12:22 SunSirs (John)
Price dynamics:
On February 8, domestic enterprises offered pure benzene:
Sinopec Group North China: Qilu Petrochemical quoted 7,000 RMB/ton, Shijiazhuang Refining and Chemical quoted 7,000 RMB/ton, Tianjin Petrochemical quoted 7,000 RMB/ton;
East China: Yangzi Petrochemical quoted 7,000 RMB/ton;
South China: Hainan Refining&Chemical quoted 7,000 RMB/ton;
Central China: Wuhan Ethylene offers 7,000 RMB/ton;
Others: Jingbo Petrochemical quoted 6,950 RMB/ton, HSBC Petrochemical quoted 7,000 RMB/ton, Weilian Chemical quoted 6,903 RMB/ton, Xinhai Petrochemical quoted 6,850 RMB/ton, and Hongrun Petrochemical quoted 7,000 RMB/ton.
Fluctuation trend:
Analysis and comments:
On February 8, the price of pure benzene of Jingbo Petrochemical was increased by 100 RMB/ton, and that of Weilian Chemical was increased by 100 RMB/ton. The price of pure benzene of Xinhai Petrochemical was stable.
This week, crude oil continued to decline, Brent oil and American oil fell by nearly 10%, and the cost side weakened broadly, which was negative for market mentality. In addition, the market supply of pure benzene was sufficient, and the downstream wait-and-see was deepened, and the market of pure benzene continued to fall. The domestic price of pure benzene was 6,850-7,000 RMB/ton on February 8.
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