From August 12 to August 19, 2022, the bidding price of crude benzene in the week decreased slightly. It was 6997 yuan / ton at the end of last week and 6583 yuan / ton at the end of this week, with a weekly drop of 5.92%.
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In terms of crude oil, at the beginning of this week, the oil price fell for three consecutive days due to the increasing concern of the market about the global economic outlook. However, the data released by the EIA on Wednesday showed that the total inventory of crude oil and gasoline in the United States fell more than expected, the fear of slowing demand eased, and the oil price rebounded. As of August 19, Brent’s price in this week fell by $1.43/barrel or 1.46% compared with last week; WTI fell by US $1.32/barrel, or 1.43%.
According to the crude oil analysts of business news, in the short term, the oil price may also be disturbed by unexpected factors in addition to being affected by the fundamentals. The hurricane climate in North America is approaching. According to the judgment of previous years, it may damage the refinery facilities along the Gulf of Mexico, which may help the oil price rebound. In addition, in the medium term, it may be affected by the soaring natural gas price in Europe, which will drive the oil price higher. In the long run, the risk of economic recession and epidemic situation are still the biggest constraints on oil prices, and the risk of far-end oil prices is high.
Summary of price adjustment of Sinopec pure benzene (unit: yuan / ton)
Date, adjusted price, adjusted amount
August 4, 8450, – 200
August 5, 8150, – 300
August 11, 7950, – 200
August 16, 7750, – 200
August 18, 7500, – 250
As for the ex factory price of Sinopec pure benzene, on August 18, 2022, the listed price of Sinopec pure benzene was reduced by 250 yuan / ton and 7500 yuan / ton.
Other enterprises: Jingbo Petrochemical quoted 7650 yuan / ton, Weilian chemical quoted 7503 yuan / ton, and Xinhai Petrochemical quoted 7600 yuan / ton.
The K-bar chart of commodity price reflects the weekly or monthly price changes in the form of a bar chart by using the idea of the K-line of price trend. Investors can buy and sell according to the changes of the K-bar chart. Red indicates rising; Green means: falling; The height of K column indicates the range of rise and fall. The weekly K-bar chart of pure benzene shows that the price of pure benzene has dropped continuously since July.
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This week, the crude oil trend is unstable, the cost support is weak, and the guidance to the industrial chain is not obvious. In terms of supply, the shutdown and maintenance devices in the early stage were restarted in succession, resulting in an increase in domestic pure benzene supply. In terms of port cargo sources, recently imported ships have been concentrated in the port. The inventory of East China port has increased by 6700 tons to 37700 tons compared with last week. The accumulated inventory of the port is obvious, and the overall supply side is mainly negative. Demand: most of the downstream products suffered losses this week. There are many shutdown and load reduction devices, and the demand for pure benzene is insufficient. In terms of cost, the bidding price of crude benzene dropped significantly this week, and with the recent increase in the operating rate of coking enterprises, the supply of crude benzene increased compared with the previous period. Generally speaking, in the future market, the business community believes that although pure benzene has been falling continuously and the purchasing sentiment in the downstream has improved, most products are still at a loss, and it is difficult to greatly increase the demand for pure benzene in the short term. The market is waiting for the downstream to make up for the bargain. In terms of devices, the 140000 T / a pure benzene capacity of Zhejiang Petrochemical phase II and the 1.27 million T / a pure benzene capacity of Shenghong refining and Chemical Co., Ltd. will be put into production. In the later stage, there are still 330000 T / a capacity of Hainan refining and Chemical Co., Ltd., 300000 t / a capacity of Shandong Fuhai Hualian phase II and 800000 T / a capacity of Guangdong Petrochemical Co., Ltd. planned to be put into production. The pressure of supply and demand is prominent, the market of pure benzene is very bad, and the short-term price is easy to fall but difficult to rise. We will continue to pay attention to the impact of crude oil and external price trends, pure benzene port inventory, pure benzene and downstream device dynamics on prices.
The crude benzene market continued to decline this week. The mainstream price in Shandong was 6520-6525 yuan / ton, down 560 yuan / ton from last week. In terms of operating rate, this week’s coking enterprises were affected by the two rounds of coke increase. The operating rate recovered significantly compared with the previous period, and the supply of crude benzene also increased. With the increase of crude benzene supply, the market was once again negative. Therefore, the bidding price was significantly lowered this week. It is expected that in the future, under the influence of the obvious increase in supply and a certain reduction in downstream demand, the crude benzene market is expected to operate under pressure, and there is a certain space for decline.
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