Price trend

According to the Commodity Market Analysis System of SunSirs, the price of pure benzene haD dropped this month, with a price of 9,318 RMB/ton on July 1st; On July 9th, the price was 8,888 RMB/ton, a decrease of 4.61% from the beginning of the month and an increase of 41.34% from the same period last year.

Analysis review

Pure benzene: The inventory of ports in East China had increased, and the inventory of pure benzene ports in Jiangsu region was 30,000 tons, an increase of 9,000 tons from the previous period's inventory of 21,000 tons, and a decrease of 83.9% from the same period last year. The market supply was abundant, and the pure benzene market continued to decline. Night trading of pure benzene negotiated around 8,800 RMB/ton.

This month, the price of Sinopec pure benzene had dropped to 8,950 RMB/ton.

Downstream side:

The market price of styrene had slightly increased. From the above chart, it can be seen that the price of styrene had been mainly fluctuating in the past three months, with a slight increase in the recent market trend. In July, there were many repairs to the styrene plant. On the 1st, the 500,000 ton/year styrene plant in Qingdao Bay was shut down for maintenance for a month. On the 10th, the 150,000 ton/year styrene plant in North Huajin was scheduled to be shut down for 14 days for maintenance. Zibo Junchen, Satellite Petrochemical, Xinpu Chemical, and Anhui Jiaxi styrene units had reduced their load to 60-80% of operation. The inventory of styrene ports in Jiangsu region was 35,900 tons, a decrease of 13,100 tons or 26.73% compared to the previous period's inventory of 49,000 tons. The inventory of styrene had decreased rapidly, and the unit load was low, leading to an expectation of further decline in supply. The styrene market was trading actively and the market was rising.

Market outlook

Crude oil: International oil prices had fallen. NYMEX crude oil futures contract 08 fell by 0.83 US dollars per barrel, or 1.00%, at 82.33 US dollars/barrel; ICE oil futures contract 09 fell by 0.79 US dollars per barrel, or 0.91%, at 85.75 US dollars/barrel. The main contract of China INE crude oil futures, 2408, fell 1.2 RMB/barrel to 635.4 RMB/barrel, and fell 9.8 RMB/barrel to 625.6 RMB/barrel in overnight trading.

The fundamentals are showing a downward trend in the short term, with sufficient supply on the market. Pure benzene may continue to decline in the short term, and wait 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 demand and downstream equipment dynamics on the price of pure benzene.

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