Price dynamics of pure benzene on October 13
On October 13, Sinopec North China: Qilu Petrochemical offered 8,050 RMB/ton for pure benzene, Shijiazhuang Refining and Petrochemical offered 8,050 RMB/ton for pure benzene, and Tianjin Petrochemical offered 8,000 RMB/ton for pure benzene;
East China: Yangzi Petrochemical quoted 8,000 RMB/ton;
South China: Hainan Refining&Chemical Co., Ltd. offered 8,000 RMB/ton;
Central China: Wuhan ethylene quoted 8,000 RMB/ton;
Others: Jingbo Petrochemical quoted 8,200 RMB/ton, Weilian Chemical 8,103 RMB/ton, and Xinhai Petrochemical 8,200 RMB/ton.
Analysis review
In terms of crude oil, OPEC lowered its forecast for global demand growth, and the market was worried about the impact of economic recession on oil demand. Oil prices fell for three days in a row.
On the 13th, Sinopec cut the price of pure benzene by 200 RMB/ton, Weilian Chemical lowered the price by 100 RMB/ton, and Xinhai Petrochemical lowered the price by 100 RMB/ton.
Crude oil fell for three days in a row, and the downstream styrene continued to weaken. The fundamentals of the pure benzene market were poor, and prices continued to fall. On the 13th, Sinopec cut the price of pure benzene by 200 RMB/ton to 8000 RMB/ton before the festival. On the 13th, the price of domestic pure benzene was 8000-8200 RMB/ton..
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