SunSirs: The Price of Pure Benzene Had Slightly Increased This Week (from July 10th to July 14th)
July 17 2023 14:31:53 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of pure benzene had slightly increased this week. On July 10th, the price of pure benzene was 6,378 RMB/ton, and on Friday (July 14th), the price of pure benzene was 6,396 RMB/ton, an increase of 2.17% compared to last week and a decrease of 29.77% compared to the same period last year.
Analysis review
This week, the price of Sinopec pure benzene stabilized at 6,600 RMB/ton (prices in Shandong and Hebei regions increased simultaneously)
Market outlook
The external market saw a broad increase, with discussions prices reaching around 6,700 RMB/ton on last night. It is expected that Pure Benzene in East China would open at high levels in the morning.
The U.S. Dollar Index fell to the lowest point in the year, and there were signs that China's crude oil imports remained high, and international oil prices continued to rise. The NYMEX crude oil futures 08 contract increased by 76.89 US dollars per barrel, or 1.50%, by 1.14 US dollars per barrel; ICE oil futures contract 09 rose by 1.25 US dollars per barrel or 1.56% to 81.36 US dollars per barrel. The main contract for China INE crude oil futures, 2309, rose 5.2 RMB to 579.1 RMB/barrel, and rose 7.1 RMB to 586.2 RMB/barrel in overnight trading.
Core logic: on July 13, pure benzene in East China was priced at 6,540-6,650 RMB/ton, while in Shandong was priced at 6,570-6,670 RMB/ton. The spot price of pure benzene in East China had significantly increased, and the demand for pure benzene in the Shandong market was strong, driving the enthusiasm of the downstream of East China to enter the market, catching up and entering the market. The main listing had been raised to 6,600 RMB/ton.
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- 2024-02-20 SunSirs: Domestic Market Dynamics of Pure Benzene on February 19, 2024
- 2024-01-03 SunSirs :Expected High-level Consolidation of Benzene in East China
- 2023-10-16 SunSirs: Weekly Report on Benzene Market
- 2023-10-10 SunSirs: On October 9, 2023, the Domestic Market Dynamics of Pure Benzene
- 2023-10-08 SunSirs: October 8, 2023 Domestic Market Dynamics of Pure Benzene
