From October 8, 2022 to October 14, 2022, the bidding price of crude benzol rose. Last weekend, it was 6729 yuan/ton, and this weekend, it was 6915 yuan/ton, with a weekly increase of 2.76%.
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In terms of crude oil, as OPEC+plans to significantly reduce production from November, the oil price has risen continuously during the festival, and Brent’s price rose by 9.96 dollars/barrel, or 11.32%, during the National Day; WTI rose by 13.15 dollars/barrel, or 16.54%. However, the market’s concern about economic recession still depressed the oil price, which mainly fell after the festival. As of October 14, Brent’s price fell by 6.29 dollars/barrel, or 6.42%, compared with last week; WTI fell by 7.03 USD/barrel, or 7.59%. Global inflation remains high, which strengthens the expectation of the central bank to raise interest rates, increases the risk of economic recession, and then weakens the demand for fuel, overshadowing the positive effect of OPEC+production cuts in oil producing countries.
Summary of Sinopec Pure Benzene Price Adjustment (Unit: yuan/ton)
Date., Adjusted Price., Adjusted Amount
September 6., 7750.,+150
September 20., 7850.,+100
October 8., 8000.,+150
October 10., 8200.,+200
October 13., 8000., – 200
The ex factory price of Sinopec’s pure benzene will be reduced by 200 yuan/ton on October 13, 2022, and the current price is 8000 yuan/ton.
Quotation of other enterprises: Jingbo Petrochemical 8200 yuan/ton, Weilian Chemical 8103 yuan/ton, and Xinhai Petrochemical 8200 yuan/ton.
The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. The weekly K-bar chart of pure benzene shows that the price of pure benzene has fallen continuously since July, and it has recovered slightly at the end of August and the beginning of September, and declined slightly in October.
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From the perspective of the industrial chain, the pure benzene market rose first and then fell this week. The opening of the market after the festival was boosted by the surge of crude oil during the festival. The pure benzene market in Asia in the external market rose, and the domestic market was in a strong positive atmosphere. After the festival, the pure benzene market rose again. The listing price of Sinopec pure benzene rose continuously to 8200 yuan/ton, and most enterprises had a certain degree of demand for replenishment after the festival. The market transactions were good. In the later period, crude oil and styrene fell, and negative fundamentals dragged down the pure benzene market. The price of pure benzene was dragged down, and the overall market trading slowed down. However, the market cycle of hydrogenated benzene basically followed the trend of pure benzene, maintaining the trend of rising first and then falling. However, with the weakening of fundamentals, the downstream price depression mentality was strong, and the price of hydrogenated benzene fell back to its high at the weekend. In the future market, the fundamentals weaken the pure benzene market, which is bad for the pure benzene market. The port inventory in East China is low as a whole. There are some maintenance plans for the downstream devices of pure benzene in the near future, which may delay the demand for pure benzene. The pure benzene industry chain may decline. In the future market, the focus is on the downstream construction in the fourth quarter and the impact of crude oil trends on the price of pure benzene.
The crude benzol price continued to rise this week, with a small overall increase. The bidding price in Shandong Province this week was 6820~6830 yuan/ton, with a slight increase of 25 yuan/ton. In terms of supply, the production limit of coking enterprises increased this week compared with the earlier period, and the supply of crude benzol contracted compared with the earlier period, which boosted the market to a certain extent. Downstream benzol hydrogenation enterprises have recently started to recover, and the demand for crude benzol is fair after the festival, which has certain support for crude benzol. However, the overall trend of the industrial chain is weak, which hinders the crude benzol price to rise. The crude benzol price only rose slightly this week. In the future market, the crude benzol market is a good and bad game. In the case of the expected tightening of the follow-up supply, the crude benzol price is expected to fluctuate mainly.
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