1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene has continued to decline this week. On Monday (March 10th), the price of pure benzene was 7168 yuan/ton, and on Friday (March 14th), the price of pure benzene was 9292 yuan/ton, a decrease of 3.37% during the week.

2、 Market analysis

Pure benzene: The price of pure benzene has continued to decline this week. There is still pressure on local refining and shipping in Shandong region, and downstream confidence is insufficient. Purchasing enthusiasm is poor, and some factories continue to lower prices. In terms of ports, although port inventory has decreased, due to the continuous impact of overseas market supply on the domestic pure benzene market in the distant months, spot holders have actively sold and prices have followed suit.

This week, Sinopec’s price dropped by 150 yuan/ton to 7050 yuan/ton.

Downstream aspects

3、 Future forecast

Crude oil futures: On March 13th, international crude oil futures closed down. The settlement price of the main contract for WTI crude oil futures in the United States was $66.55 per barrel, a decrease of $1.13 or 1.7%. The settlement price of the main Brent crude oil futures contract was $69.88 per barrel, a decrease of $1.07 or 1.5%.

On March 13th, FOB Korea rose by 9 to 821 US dollars per ton, CFR China rose by 10 to 839 US dollars per ton, FOB Rotterdam remained stable at 748 US dollars per ton, and FOB USG fell by 9 to 255 US cents per gallon.

Overall forecast: The pure benzene market is expected to fluctuate at a low level in the short term, and we will wait and see on the cost and demand side news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.