SunSirs: The Price of Pure Benzene Increased Slightly This Week (April 3-7)

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of pure benzene slightly increased this week. On April 3rd, the price of pure benzene was between 7,253 and 7,400 RMB/ton (average price of 7,326 RMB/ton). On Friday (April 7th), the price of pure benzene was between 7,450 and 7,600 RMB/ton (average price of 7,525 RMB/ton), an increase of 4.15% compared to last week and a decrease of 11.88% compared to the same period last year.

Analysis review

This week, the price of Sinopec pure benzene stabilized at 74,500 RMB/ton (prices in Shandong and Hebei regions increased by 150 RMB/ton simultaneously)

Market outlook

Pure benzene: Driven by the strength of crude oil before the holiday, the market's bullish sentiment towards the future has increased, and downstream and traders were actively buying, resulting in good transactions. The spot transaction of pure benzene in East China was between 7,470 and 7,500 RMB/ton, with an average price of 7,485 RMB/ton, an increase of 50 RMB/ton. Shandong 7,300-7,350 RMB/ton, with an average price of 7,325 RMB/ton, an increase of 90 RMB/ton. During the holiday period, crude oil prices stopped rising and the external market fell. It is expected that the majority of pure benzene in East China will fluctuate and consolidate in the morning.

Saudi Arabia raised the official sales price of crude oil to the Asian region in May, indicating strong demand, and international oil prices increased. NYMEX crude oil futures 05 contract rose by 0.09 US dollars per barrel or 0.11% to 80.70 US dollars per barrel; ICE oil futures contract 06 increased by 0.13 US dollars per barrel or 0.15% at 85.12 US dollars per barrel. The main contract for China INE crude oil futures, 2305, rose 6.3 RMB to 582.3 RMB/barrel, and rose 6.4 RMB to 588.7 RMB/barrel in overnight trading.

Core logic: On the 6th, the spot trading atmosphere in East China was poor. Shandong Refinery had achieved good transactions at low prices, with inventory rapidly declining. The offer continued to rise, but pure benzene trend in East China was weak, which led to weaker transactions in Shandong.

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