1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene has fallen this month, with a price of 9318 yuan/ton on July 1st; On July 12th, the price was 8834.67 yuan/ton, a decrease of 6.26% from the beginning of the month and an increase of 36.54% from the same period last year.
2、 Analysis and Review
Pure benzene: The inventory of ports in East China has increased. The inventory of pure benzene in ports in Jiangsu region is 30000 tons, an increase of 9000 tons from the previous period’s inventory of 21000 tons, and a decrease of 83.9% from the same period last year. The market supply is abundant, and there is an increase in downstream maintenance equipment for pure benzene. It is expected that inventory will rise in July and August. The pure benzene market stopped falling after a downturn. At present, negotiations for pure benzene are approaching 8750 yuan/ton.
This month, the price of pure benzene from Sinopec has dropped to 8800 yuan/ton.
Downstream aspects
The market price of styrene has slightly increased. From the above chart, it can be seen that the price of styrene has mainly fluctuated in the past three months, with a slight increase in the recent market trend. At present, the inventory of styrene at the port is low, and the production of styrene units has decreased significantly, resulting in a decrease in supply expectations. However, downstream demand is weak, which may suppress the rise of styrene prices. Business analysts predict that the styrene market will mainly rise slightly.
3、 Future forecast
Crude oil: NYMEX crude oil futures contract 08 rose $0.52 per barrel or 0.63% to 82.62; ICE Brent Oil Futures 09 contract rose $0.32 per barrel or 0.38% to 85.40. The main contract for Chinese INE crude oil futures, 2408, fell 0.1 to 621.2 yuan/barrel, and fell 0.9 to 620.3 yuan/barrel during the night trading session.
The price of raw materials rebounded after a continuous decline, and there is sufficient supply of pure benzene on the market. In mid July, there were more shipments from Jiangsu to the port, and pure benzene may continue to decline in the short term. We are waiting to see if the cost and demand sides can improve. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.
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