SunSirs: The Price of Pure Benzene Rose Slightly This Week (March 27-31)

Price trend

According to the monitoring data of SunSirs, the price of pure benzene increased slightly this week. On March 27th, the price of pure benzene was 6,980-7,300 RMB/ton (average price: 7,140 RMB/ton), while on Thursday (March 30th), the price of pure benzene was 7,150-7,300 RMB/ton (average price: 7,225 RMB/ton), up 0.34% from last week and down 12.48% from the same period last year.

Analysis review

The price of Sinopec pure benzene stabilized at 7,300 RMB/ton this week (prices in Shandong and Hebei regions remained stable)

Crude oil strengthened overnight. The market is expected to open slightly higher and consolidate in the future.

Market outlook

Pure benzene: On the 31st, the transaction atmosphere in East China turned pale, with the replenishment of contract customers basically completed, and the downstream inventory was sufficient. The wait-and-see atmosphere gradually rose. North South arbitrage closed, Shandong's demand performance was sluggish, the market weakened slightly, and transactions were poor. Crude oil strengthened overnight. The market is expected to open slightly higher and consolidate in the future.

The spring overhaul peak of American refineries has ended, and demand may increase, coupled with global supply tightening, leading to a rise in international oil prices. NYMEX crude oil futures 05 contract was 74.37 US dollars/barrel, an increase by 1.40 US dollars/barrel or 1.92%; ICE oil distribution futures 05 contract was 79.27 US dollars/barrel, an increase by 0.99 US dollars/barrel, or 1.26%. The main contract for China INE crude oil futures 2305 rose 0.9 RMB/ton to 524.4 RMB/ton per barrel, while it rose 4.1 RMB/ton to 528.5 RMB/ton per barrel in overnight trading.

Core logic: On the 30th, the transaction atmosphere turned weak, the replenishment of contract customers was basically completed, and the downstream inventory was sufficient. The wait-and-see atmosphere gradually rose. North South arbitrage closed, Shandong's demand performance was sluggish, the market weakened slightly, and transactions were poor.

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