Price dynamics of pure benzene on December 7

Sinopec North China: Qilu Petrochemical offered 6,450 RMB/ton, Shijiazhuang Petrochemical 6,450 RMB/ton, and Tianjin Petrochemical 6,500 RMB/ton;

East China: Yangzi Petrochemical quoted 6,500 RMB/ton;

South China: Hainan Refining&Chemical Co., Ltd. offered 6,500 RMB/ton;

Central China: Wuhan Ethylene offered 6,500 RMB/ton;

Others: Chambroad Petrochemical offered 6,600 RMB/ton, HSBC Petrochemical offered 6,500 RMB/ton, Weilian Chemical offered 6,553 RMB/ton, Xinhai Petrochemical offered 6,600 RMB/ton, and Hongrun Petrochemical offered 6,650 RMB/ton.

Analysis and comments:

In terms of crude oil, the market was shrouded in a negative atmosphere, investors were generally worried about the future economic prospects, and fuel demand was dragged down by the economy. In addition, OPEC, the organization of oil producing countries, failed to deepen the reduction of production, and the EU's oil export price ceiling to Russia was currently difficult to play a role, oil prices continued to fall.

On the 7th, Jingbo Petrochemical lowered the price of pure benzene by 100 RMB/ton, and Weilian Chemical lowered the price of pure benzene by 50 RMB/ton.

Crude oil continued to decline, the negotiation mood of the pure benzene market became weaker, the price at the high end fell, and the low end was strong. On December 7, the price of domestic pure benzene was 6,450-6,650 RMB/ton.

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