Price trends: on October 13, Sinopec North China: Qilu Petrochemical offered 8050 yuan/ton, Shijiazhuang Petrochemical 8050 yuan/ton, and Tianjin Petrochemical 8000 yuan/ton;
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East China: Yangzi Petrochemical quoted 8000 yuan/ton;
South China: Hainan Refining&Chemical Co., Ltd. offers 8000 yuan/ton;
Central China: Wuhan ethylene quoted 8000 yuan/ton;
Others: Jingbo Petrochemical quoted 8200 yuan/ton, Weilian Chemical 8103 yuan/ton, and Xinhai Petrochemical 8200 yuan/ton.
Analysis and comments: In terms of crude oil, OPEC lowered its global demand growth forecast. The market was worried about the impact of economic recession on oil demand, and oil prices fell for three days in a row.
Today, Sinopec’s pure benzene was reduced by 200 yuan/ton, Weilian Chemical’s pure benzene was reduced by 100 yuan/ton, and Xinhai Petrochemical’s pure benzene was reduced by 100 yuan/ton.
Crude oil fell for three days in a row, and the downstream styrene continued to weaken. The fundamentals of the pure benzene market were poor, and prices continued to fall. Today, Sinopec cut the price of pure benzene by 200 yuan/ton to 8000 yuan/ton before the festival. Today, the price of pure benzene in China is 8000-8200 yuan/ton.
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