1、 Price trend
According to the commodity market analysis system of Shengyishe, the price of pure benzene has slightly increased this month. Since the beginning of the month, the price of pure benzene has been rising, and after mid month, the price has remained stable. However, the price has slightly declined towards the end of the month. On June 1st, the price was 9125 yuan/ton; On June 31st, the price was 9368 yuan/ton, an increase of 2.66% from the beginning of the month and 51.41% from the same period last year.
2、 Analysis and Review
Pure benzene: The inventory in East China ports has decreased rapidly, with a total volume of less than 20000 tons, and multiple factories have low inventory. The market supply is tight, and the pure benzene market remains volatile at a high level. Night trading of pure benzene negotiated around 9350 yuan/ton.
This month, the price of Sinopec pure benzene has risen to 9450 yuan/ton.
Downstream aspect
The styrene market fluctuated and fell, with more maintenance of styrene units in June. The inventory of styrene remains low, and domestic supply remains at a relatively low level. However, the losses in the styrene industry continue to expand, and downstream resistance to high prices has suppressed the increase in the styrene market.
3、 Future Market Forecast
Crude oil: International oil prices are rising. The NYMEX crude oil futures 08 contract rose by $0.90 per barrel, or 1.11%, at 81.63%; ICE oil futures contract 08 rose $0.77 per barrel, or 0.90%, on 86.01. The main contract of China INE crude oil futures, 2408, fell 1.9 to 618.8 yuan/barrel, and rose 5.0 to 623.8 yuan/barrel in overnight trading.
The fundamentals are showing an upward trend in the short term, with sufficient supply on the market. Pure benzene may continue to rise in the short term, and we are waiting to see if the cost and demand sides can improve. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in demand and downstream equipment dynamics on the price of pure benzene.
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