1、 Price trend
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According to the bulk list data of the business community, pure benzene rose during the National Day holiday. On September 30, the price of pure benzene was 7850-8200 yuan/ton (average price 7917 yuan/ton), and on October 11, the price was 8200-8400 yuan/ton (average price 8284 yuan/ton), up 4.63% from before the festival and down 2.31% from the same period last year.
2、 Analysis and review
Due to the strong rise of crude oil during the holiday period and the rise of pure benzene in Asia, the domestic pure benzene market was boosted. During the National Day holiday, the market in East China was closed, and the local refining enterprises in Shandong had a good shipment and prices rose. After the festival, Sinopec raised the listing price of pure benzene twice, up 350 yuan/ton to 8200 yuan/ton (some refineries in North China increased to 8250 yuan/ton).
In terms of external market, the reference price of pure benzene in the Korean market on October 7 was 919 US dollars/ton, up 32 US dollars/ton or 3.61% compared with that before the festival; The reference import price in East China was 937 US dollars/ton, up 20 US dollars/ton or 2.18% compared with that before the festival.
In terms of crude oil, the OPEC+meeting decided to cut the output by 2 million barrels per day from November on the basis of that in August. The OPEC+production cut decided to benefit the crude oil market. International oil prices rose for five consecutive days. As of October 7, Brent prices rose by 9.96 dollars/barrel, or 11.32%; WTI rose by 13.15 dollars/barrel, or 16.54%.
Downstream
3、 Future market expectation
The downstream demand of pure benzene has been repaired, and the short-term price is relatively strong under the support of crude oil. However, after the arrival of imported pure benzene, the port inventory continued to accumulate. If crude oil falls, pure benzene may weaken.
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