Price rise and fall of main domestic hydrogenated benzene market from November 26 to December 3 (unit: yuan / ton)

Region. Price on November 26. Price on December 3. Weekly rise and fall

East China, 6450., 6300. – 150

Shandong Province, 6650., 6050. – 600

This week (November 26 to December 3), the market price of hydrogenated benzene in Shandong decreased, from 6650 yuan / ton last weekend to 6050 yuan / ton this weekend, down 600 yuan / ton.

Summary of price adjustment of Sinopec pure benzene in 2021 (unit: yuan / ton)

Date., adjusted price., adjusted amount

October 8, 8000., + 300

October 11, 8400., + 400

October 26, 8100. – 300

October 28, 7600. – 500

November 16, 7400. – 200

November 18, 7000. – 400

November 26, 6700. – 300

November 29, 6450. – 250

On November 29, 2021, the listing price of Sinopec’s pure benzene was reduced by 300 yuan / ton to 6450 yuan / ton, of which Qilu Petrochemical implemented 6400 yuan / ton. Other enterprises: Dongming Petrochemical offers 6200 yuan / ton, HSBC Petrochemical offers 6450 yuan / ton, and Jincheng Petrochemical offers 6150 yuan / ton; Weilian chemical offers 6103 yuan / ton, Xinhai Petrochemical offers 6150 yuan / ton, and Hongrun Petrochemical offers 6250 yuan / ton.

In terms of crude oil, international oil prices rebounded on December 2. The settlement price of the main contract of us WTI crude oil futures was US $66.50/barrel, up US $0.93 or 1.4%, and the settlement price of the main contract of Brent crude oil futures was US $69.67/barrel, up US $0.80 or 1.2%. Oil prices closed higher on Thursday, mainly because the organization of Petroleum Exporting Countries and its allies (OPEC +) agreed to maintain the production increase plan in January, i.e. an increase of 400000 barrels / day, in line with market expectations, but the impact of the mutant virus Omicron on energy demand is still fermenting, and the oil price is still in an empty environment.

Since the end of November, the decline of crude oil has expanded, the downstream styrene has maintained a continuous downward trend, and the upstream and downstream support of pure benzene is weak. In terms of supply, the load of a large unit in East China is increased, and the supply of pure benzene is expected to increase in December; The arrival of cargo at East China port is concentrated, and the inventory rises rapidly. It is expected that the inventory will continue to rise in the later stage. Multiple bad news superimposed, and the price of pure benzene fell rapidly. The hydrogenated benzene market mainly followed the trend of pure benzene downward. This week, the bidding price of crude benzene in the downstream was significantly callback, and about 4985-4990 yuan / ton was implemented in Shandong. Weak supply and demand once again affected the market mentality. The number of maintenance and load reduction enterprises of benzene hydrogenation enterprises increased, the operating rate declined as a whole, and the future supply expectation was tight.

Affected by the sharp decline of market price and the high price of raw material crude benzene, the operating rate of benzene hydrogenation enterprises continued to decline in November, and the maintenance and load reduction devices increased recently. Compared with pure benzene, the start-up and shutdown costs of hydrogenated benzene enterprises are lower, and most manufacturers schedule their production according to their profits.

In the future, the business society believes that the accumulation of pure benzene in East China and the weak supply and demand once again affect the market mentality. At present, the profits of benzene hydrogenation enterprises are low, and the start-up of enterprises is low. The bidding price of crude benzene in Shanxi this week has been greatly reduced, which can alleviate the cost pressure of some benzene hydrogenation enterprises. However, under the influence of many negative fundamental factors, the future price is expected to be weak.