Price trend

According to the data of SunSirs, the price of pure benzene has been declining since February. On January 31, the price of pure benzene was 5,600-5,950 RMB/ton, and on February 7, the price of pure benzene was ,5400-5,600 RMB/ton, down 4.97% compared with the previous price. 

Analysis review   

Product: This week is the first week of returning to work after the Spring Festival. Affected by the epidemic, the downstream operating rate is low, the operating load is not high and the transportation is limited. The pure benzene market is light and the price is declining. This week's pure benzene port inventory is down from the year before.

Crude oil: from the beginning of the Spring Festival, the overall oil price has declined. In the event of the impact of Chinese Spring Festival and the epidemic, crude oil prices plummeted, and WTI oil prices fell below $50/barrel. WTI fell 4.63% and Brent 5.28% compared to January 24.

 Downstream industry: the downstream operation rate is low and the operation load is not high. Styrene: the 200,000 ton unit of Yuhuang in Shandong was shut down on January 28, and the load of Dagu in Tianjin was reduced to about 60%. At present, Zhejiang Petrochemical Company has started 60%. Styrene was down 3.92% from the end of January. The supply and demand of aniline are in a temporary balance.

Market outlook

Crude oil: the impact of the epidemic is continuing, and the sharp rebound in oil prices may be small. Pay attention to OPEC discussion and deepen the process of production reduction.

Market: enterprises have resumed work, but transportation still limits the price of pure benzene. Downstream styrene is expected to remain negative in late February. Restricted transportation restricts the recovery of the chemical products market.

Next week, pure benzene is expected to remain weak.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.