According to the Commodity Market Analysis System of Business Society, from August 4th to August 11th, 2023, the weekly auction price of crude benzene increased, reaching 7268.75 yuan/ton this weekend and 7198.75 yuan/ton last weekend, with a weekly increase of 0.97%.
In terms of crude oil: During this cycle, the crude oil market rose first and then fell, with an overall upward trend. On August 10th, international crude oil futures closed lower. The settlement price of the main contract for WTI crude oil futures in the United States was $82.82 per barrel, a decrease of $1.58 or 1.9%. The settlement price of the main contract for Brent crude oil futures was $86.40 per barrel, a decrease of $1.15 or 1.3%. The weak economic data in the United States, coupled with the uncertain outlook for Chinese demand, has put pressure on the oil market and led to a downward trend.
The factory price of Sinopec pure benzene has increased by a total of 150 yuan/ton during this cycle, with a current implementation of 7750 yuan/ton.
Other companies: Jingbo Petrochemical quoted 7800 yuan/ton, HSBC Petrochemical quoted 7750 yuan/ton, Weilian Chemical quoted 8003 yuan/ton, Xinhai Petrochemical quoted 7800 yuan/ton, and Hongrun Petrochemical quoted 7750 yuan/ton.
According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly increased this week. On August 7th, the price of pure benzene was 7675 yuan/ton, and on Friday (August 11th), the price of pure benzene was 7800 yuan/ton, an increase of 1.66% compared to last week and a decrease of 4.38% compared to the same period last year.
The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has seen a positive trend in recent times. After ten consecutive weeks of decline, it has continued to rise for six consecutive weeks.
From the perspective of the industrial chain, crude oil continued to show a strong trend this week. The pure benzene market was affected by the tight inventory in East China, and prices continued to rise during the week. Sinopec has raised the ex factory price of pure benzene to 7750 yuan/ton. Driven by the pure benzene market, the hydrogenation benzene market continued to rise this week, but the increase was relatively small.
The auction price of crude benzene continued to rise this week, but the overall increase has tightened. On the supply side, the operating rate of coking enterprises has slightly rebounded this week, and the supply of crude benzene remains slightly tight. In terms of demand, the production of hydrogenation benzene enterprises has slightly declined this week, and the demand is still acceptable. Overall, the tight supply of pure benzene has driven the industry chain up, and the market trading situation has improved. In the future, there has been no significant change in supply and demand, and the trend of hydrogenated benzene will still follow the fluctuations of the pure benzene market. The price of pure benzene is running at a high level, and there is already a resistance mentality in the downstream. However, the overall supply of pure benzene is tight, and the benefits still exist. It is expected that the crude benzene market will continue to operate at a high level in the short term.
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