According to the Commodity Market Analysis System of Business Society, from December 18 to December 25, 2023, the ex factory price of hydrogenated benzene in North China increased, reaching 7133 yuan/ton this week and 6866 yuan/ton last week, up 3.88%.
In terms of crude oil: Angola’s decision to withdraw from OPEC has raised doubts in the market about the sustainability of OPEC+production cuts, leading to a decline in international oil prices. On December 22nd, international crude oil futures closed lower, with the settlement price of the main WTI crude oil futures contract in the United States at $73.56 per barrel, a decrease of $0.33 or 0.5%. The settlement price of Brent crude oil futures main contract was 78.80 yuan/barrel, a decrease of 0.36 US dollars or 0.5%.
On December 20th, Sinopec’s listed price of pure benzene increased by 150 yuan/ton to 6950 yuan/ton.
Other companies: Jingbo Petrochemical quoted 7200 yuan/ton, HSBC Petrochemical quoted 6950 yuan/ton, Weilian Chemical quoted 7053 yuan/ton, Xinhai Petrochemical quoted 7200 yuan/ton, and Hongrun Petrochemical quoted 6950 yuan/ton.
According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly increased this week. On December 18th, the price of pure benzene was 6837 yuan/ton, and on Friday (December 22nd), the price of pure benzene was 7080 yuan/ton, an increase of 3.76% from last week and 8.38% from the same period last year.
K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell 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 a significant increase in the pure benzene market recently.
In terms of the industrial chain, the crude oil market fell first and then rose during the week, and the styrene market overall strengthened. Due to the impact of transportation, the delivery of pure benzene in East China is not good, and the bullish mentality of the spot market has increased. In terms of demand, downstream stocks have been replenished recently, and market trading has been active. Sinopec raised the listing price of pure benzene to 6950 yuan/ton and increased it by 150 yuan/ton within the week. Supported by multiple positive factors, the overall pure benzene market rose this week, driving a significant rebound in the hydrogenated benzene market.
This week, the upward trend in the pure benzene market has driven an overall positive atmosphere in the industrial chain. Sinopec’s listed price has been raised to 6950 yuan/ton, and the ex factory price of hydrogenated benzene in the main production areas has risen to 7100-7200 yuan/ton. Market negotiations have performed well. In terms of supply, the operating rate of hydrogenated benzene enterprises has not changed much this week, and the overall supply of hydrogenated benzene is still acceptable. In terms of demand, downstream enterprises are expected to see a rebound in operating rates in the near future, and the overall improvement in market demand in the future has once again boosted market sentiment. In recent times, the hydrogenated benzene market has closely followed the trend of pure benzene, and in the future, it is expected that the hydrogenated benzene market will operate stronger in the short term, with upward potential, boosted by the favorable industrial chain.
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