Price trend

According to the Commodity Market Analysis System of SunSirs, the price of benzene has continued to decline this week. On Monday (March 10th), the price of benzene was 7,168 RMB/ton, and on Friday (March 14th), the price of benzene was 6,929 RMB/ton, a decrease of 3.37% during the week.

Analysis review

The price of benzene has continued to decline this week. There was still pressure on local refining and shipping in Shandong region, and downstream confidence was insufficient. Purchasing enthusiasm was poor, and some factories continued to lower prices. In terms of ports, although port inventory has decreased, due to the continuous impact of overseas market supply on the domestic benzene market in the distant months, spot holders have actively sold and prices have followed suit.

This week, the price of benzene from Sinopec fell by 150 RMB/ton to 7,050 RMB/ton.

Market outlook

Crude oil futures: On March 13th, international crude oil futures closed down. The settlement price of the main contract for WTI crude oil futures in the United States was 66.55 US dollars per barrel, a decrease of 1.13 US dollars per barrel or 1.7%. The settlement price of the main Brent crude oil futures contract was $69.88 US dollars per barrel, a decrease of 1.07 US dollars per barrel or 1.5%.

On March 13th, FOB Korea rose by 9 to 821 US dollars per ton, CFR China rose by 10 to 839 US dollars per ton, FOB Rotterdam remained stable at 748 US dollars per ton, and FOB USG fell by 9 to 255 US cents per gallon.

The benzene market is expected to fluctuate at a low level in the short term, and we will wait and see on the cost and demand side news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in benzene and downstream equipment dynamics and demand on the price of benzene.

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