I. price trend
According to the data of the business club’s large scale list, this week’s decline of pure benzene continued last week. On Friday, the price of pure benzene fell at 5300-5750 yuan / ton, while on Friday, the price of pure benzene fell at 5000-5600 yuan / ton, or 3.06%.
II. Analysis and comment
1. Products: this week, the pure benzene market has a strong bearish atmosphere. The coking industry continues to break new lows. In addition, some downstream maintenance in East China and North China has greatly reduced the demand, and the pure benzene market continues to decline.
2. Crude oil: the overall international oil price rose first and then fell this week, with great volatility. Oil prices rose sharply last week as Iranian oil tankers attacked. In the later period, the International Monetary Fund lowered its economic growth expectations and the increase of us oil product storage, which increased market worries and led to a sharp drop in oil prices. WTI was down 0.35% and Brent was up 0.54% compared with last Friday (October 11).
3. Related industries: this week, the downstream styrene continued to decline, down 5.86% week-on-week, with a large negative impact, and the pure benzene market is difficult to recover; this week, aniline rose slightly due to the preparation of shipping, with a small impact on pure benzene.
| sodium persulphate |
4. External market: the price of pure benzene in the external market continued to decline this week, and rose slightly on Friday, which was negative for the pure benzene market.
III. future forecast
1. Crude oil: next week, the oil price will continue to consolidate at a low level, with a heavy bearish atmosphere in the market.
2. Domestic market: at present, there are many overhauls and weak demand in the North China market; some downstream devices are overhauled and weak market support; in addition, the styrene in the downstream has a large decline and the market mentality is short. However, pure benzene fell sharply for two weeks in a row, and the market dare not blindly catch up.
Overall, it is expected that the trend of pure benzene will continue to be weak next week, or continue to decline but not much.
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