I. price trend:

On November 17, the hydrogenated benzene commodity index was 56.84, unchanged from yesterday, down 44.28% from 102.01 (2014-01-09), the highest point in the cycle, and up 27.56% from 44.56, the lowest point on August 31, 2015. (Note: cycle refers to 2013-12-01 to now).

II. Market analysis:

Domestic market: the market price of hydrogenated benzene this week rose slightly. By Friday, the price of hydrogenated benzene in East China was 5250-5350 yuan / ton, 150 yuan / ton higher than that at the beginning of the week. This week, the operating rate of hydrogenated benzene enterprises increased slightly, the price difference with crude benzene narrowed, the loss space narrowed, the market focus moved up, and the negotiation went up significantly, among which, Shandong, Shanxi and Hebei increased by 200-300 yuan / ton. Although the recent maintenance of hydrogenated benzene enterprises was concentrated and the overall operation decreased, the price of raw material crude benzene rose this week, and the increase of crude benzene in some regions exceeded the increase of hydrogenated benzene, The profitability of hydrogenated benzene enterprises is still below the cost line.

Industry chain: crude oil: this week’s crude oil range fluctuated, affected by economic data, progress of trade negotiations and US crude oil inventory. WTI was up 1% and Brent was up 2.46% compared with November 8. Pure benzene: at the beginning of the week, the market demand for pure benzene was weak and the price was lower. However, the reduction of hydrogenated benzene production led to the decrease of supply, driving the price of pure benzene higher in North China. Tight spot supply and drop in port inventory led to short covering, which drove the price of pure benzene to continue to rise.

3. Trend forecast:

Next week, oil prices may continue to fluctuate. The supply and demand of coking industry has improved, and the overall support of hydrobenzene is strong, but the power of pure benzene follow-up belt is still strong, the downstream support is limited, and the price of hydrobenzene in the future is mainly consolidated.