According to the Commodity Market Analysis System of Business Society, from May 6 to May 12, 2022, the ex factory price of hydrogenated benzene in North China was lowered. Last weekend, it was 7200 yuan/ton, and this weekend, it was 7066.67 yuan/ton, a decrease of 1.85%.

In terms of crude oil, international crude oil futures continued to decline on May 11th. The settlement price of the main contract for WTI crude oil futures in the United States was $70.87 per barrel, a decrease of $1.69 or 2.3%. The settlement price of the main contract for Brent crude oil futures was $74.98 per barrel, a decrease of $1.43 or 1.9%. The debt ceiling impasse in the United States has intensified the fear of economic recession, and the increase in the number of Americans who apply for unemployment benefits roughly has put pressure on the oil market.

The factory price of Sinopec pure benzene decreased by 250 yuan/ton on May 8, 2023, and is currently at 7050 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7170 yuan/ton, HSBC Petrochemical quoted 7200 yuan/ton, Weilian Chemical quoted 7153 yuan/ton, Xinhai Petrochemical quoted 7150 yuan/ton, and Hongrun Petrochemical quoted 7200 yuan/ton.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has experienced a decline in recent times, with a continuous decline for four weeks.

In terms of industrial chain: This week, the crude oil market rose first and then fell, and overall declined. The downstream styrene market continued to decline, dragging down the external market of pure benzene. The pure benzene market overall declined this week, and there were rumors that Sinopec’s listed price had a downward expectation, which once again affected the market mentality. After the hydrogenation benzene festival, it followed the overall downward trend of pure benzene, and the current factory price in the main production area is around 6900-7050 yuan/ton.

This week, the hydrogenation benzene market follows the trend of pure benzene and is generally weak. As of the 12th, the ex factory price in the main production area was between 6900 and 7050 yuan/ton, while the mainstream price in East China was between 6950 and 7000 yuan/ton. In terms of supply, the market has been operating weakly recently, with the operating rate of hydrogenation benzene enterprises slightly declining, and some manufacturers have maintenance plans. In terms of demand, downstream procurement is just needed, and the overall demand has not changed much. Downstream styrene market has declined, indicating a willingness to hold down the price of pure benzene, putting pressure on the industry chain market. Overall, the recent decline in crude oil has led to a narrow decline in the price of pure benzene due to the drag. In the future, the business community expects the industrial chain to decline, and the price of hydrogenated benzene will be mainly weak in the future.