SunSirs: Cost Boosted, the Price of CPL Increased (February18-23)
February 27 2024 15:19:57 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average market price of domestic CPL on February 18th was 13,812 RMB/ton, and on February 23rd, the average market price of domestic CPL was 13,923 RMB/ton. This week, the price of CPL increased by 0.81%.
Analysis review
The market price of CPL had increased this week. This week, the price of raw material pure benzene had increased, leading to increased cost support. Driven by raw materials, the market trend of CPL was on the rise. Downstream replenishment was mainly based on demand, and the market transaction atmosphere was good. As of February 23rd, the monthly self delivery settlement price of Sinopec's high-end liquid premium product, CPL, was 14,245 RMB/ton.
The price of raw material pure benzene had increased this week. On February 18th, the price of pure benzene was 8,483 RMB/ton, and on Friday (February 23rd), the price of pure benzene was 8,760 RMB/ton, an increase of 4.32% from last week. This week, the price of Sinopec pure benzene was 8,850 RMB/ton (prices in Shandong and Hebei regions increased by 550 RMB/ton simultaneously).
Market outlook
SunSirs’ CPL Analysts believe that the CPL market had continued to rise in recent days. The raw material pure benzene showed a slight decline after a strong rise, and the market's cautious attitude increased. It is expected that the short-term market for CPL will mainly experience slight consolidation and operation.
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- 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)
