Price trend

According to the data monitoring of SunSirs, this week's pure benzene is weakly consolidating and the price is basically stable. The price of pure benzene on Friday is 5250-5400RMB/ton, which is stable compared with last Friday.

Analysis review        

Product: the port inventory of pure benzene is low this week, and the spot supply is tight to support the pure benzene market. However, the downstream profit level is low, which limits the recovery of pure benzene market.

Crude oil: this week's crude oil fluctuated broadly. Affected by OPEC's possible extension of production reduction period, the overall oil price rose from last week. WTI was up 1.3% and Brent was up 1.95% compared with November 15. But at present, crude oil price has little influence on the price of pure benzene.

Related industries: downstream styrene fell 1.13% after rising this week; aniline enterprises reduced price to promote shipment, down 6.64% this week. The price of aniline was high in last month and the profit was large, but this month's consecutive decline of aniline has bad impact to the pure benzene market.

Market outlook

Crude oil: in the next week, the production reduction activity supports the oil price to go higher, but economic data and other constraints on the oil price, the oil price may continue to fluctuate.

Domestic market: at present, the overall supply and demand of pure benzene market are weak, and the sense of market direction is not strong. In addition, the supply of hydrogenated benzene in North China will resume, and Zhejiang Petrochemical will soon pilot production, which may increase the impact on the pure benzene Market in the future.

Considering comprehensively, pure benzene is expected to remain weak in the short term.

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