1、 Price trend
Pure benzene continued to decline this week, according to data from the business club’s large list. On April 26, the listing price of pure benzene was 3000-3500 yuan / ton (average price 3170 yuan / ton), and on May 3, the listing price of pure benzene was 2750-3400 yuan / ton (average price 2960 yuan / ton), down 6.62% from last week.
2、 Analysis and comment
1. Products: on Tuesday, the listing price of Sinopec’s pure benzene was reduced by 250 yuan / ton to 2800 yuan / ton. The port inventory of pure benzene decreased slightly compared with last week. At the beginning of the week, the price of pure benzene continued to decline due to the weakness of crude oil and external market.
3. Outside: on April 30, South Korea imported 323.67 US dollars / ton of pure benzene, down 8 US dollars / ton, down 2.41% compared with April 24; East China imported 341 US dollars / ton of pure benzene, flat compared with April 14. In April, the import of pure benzene from South Korea rose by 58.67 USD / ton, or 22.14%; the import of pure benzene from East China rose by 38 USD / ton, or 12.54%.
3. Crude oil: many countries have gradually relaxed the blockade measures, and the recovery of crude oil demand is expected to be positive. Brent was up $3.35/barrel, or 20.92%, this week from April 24, while WTI was up $5.35/barrel, or 31.58%.
4. Downstream industry: the price of styrene rose this week, and the price in Shandong Province was 5100 yuan / ton on Friday, 2% higher than last week.
Before this week’s festival, the purchase of aniline was general, and the price reduction promoted the shipment. On Friday, the price in Shandong is 4800 yuan / ton, and in Nanjing is 4800 yuan / ton.
3、 Future forecast
In May, crude oil demand may gradually recover as oil production is reduced and the blockade measures are relaxed in many countries. For the external market and domestic pure benzene market to bring good support.