SunSirs: Both Supply and Demand Were Weak, CPL Market Fluctuated (May 8-12)
May 16 2023 13:46:15 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the average market price of domestic liquid CPL was 12,666 RMB/ton on May 8, and the average market price of domestic liquid CPL was 12,866 RMB/ton on May 12. CPL prices rose 1.58% this week.
Analysis review
CPL market prices fluctuated slightly this week. The price of raw material pure benzene was lowered, and cost support was insufficient. As of December 12, the supply of CPL market was relatively stable, and the supply and demand were relatively balanced. Downstream demand performance was insufficient, and procurement was more cautious, maintaining a wait-and-see attitude. As of May 12, the delivered price of CPL liquid of Shandong Hualu Hengsheng in East China was 12,500 RMB/ton, and the plant capacity of the manufacturer is 300,000 tons/year. Sinopec high-end liquid premium CPL self-pickup settlement price was 13,200 RMB/ton.
This week, the price of pure benzene slightly decreased. On May 8th, the price of pure benzene was between 7,050-7,330 RMB/ton (average price 7,190 RMB/ton), and on May 12th, the price was between 7,050-7,170 RMB/ton (average price 7,110 RMB/ton). The price decreased by 4.24% compared to last week and decreased by 18.9% compared to the same period last year. This week, the price of Sinopec pure benzene dropped to 7,050 RMB/ton.
Market outlook
CPL analysts from SunSirs believe that the price of raw material pure benzene has weakened recently, and the cost side support is general. Terminal follow-up is slow, and the market is mostly low priced transactions. It is expected that CPL market price will be dominated by narrow range consolidation in the short term.
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- 2024-04-26 SunSirs: Negative Factors Increased, and the Trend of CPL Declined (April 15-24)
- 2024-04-12 SunSirs: In early April, the Market for CPL Strengthened
- 2024-03-28 SunSirs: Under the Dominance of Bearish Factors, the Price of CPL Had Fallen (March 18-24)
- 2024-03-20 SunSirs: Supply and Demand Gamed, and the Price of CPL Declined (March 11-15)
- 2024-03-11 SunSirs: Supply Exceeded Demand, Leading to a Decline in the Price of CPL (March 4-8)
