1、 Price trend
According to the business club’s big list data, the price of pure benzene continued to rise this week, boosted by multiple positive. On August 2, the listed price of pure benzene was 3230-3400 yuan / ton (the average price was 3370 yuan / ton); on this Sunday (August 9), the listed price of pure benzene was 3330-3450 yuan / ton (the average price was 3440 yuan / ton), and the average price was 70 yuan / ton or 2.08% higher than last week.
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2、 Analysis and comment
This week, Sinopec raised the price by 100 yuan / ton to 3450 yuan / ton. The bottom support was strengthened and the market was reluctant to sell at low prices. Last week experienced the end of the month to fill the short, the enthusiasm for purchasing was high, this week the market mentality fell, spot trading was light. This week, the port inventory of pure benzene continued to rise, restricting the market to recover, but the pressure of pressure to increase has eased, the situation may be better than July.
On the external side, the price of pure benzene fell this week. On Friday (August 7), South Korea imported 436.33 US dollars / ton of pure benzene, down 13.67 US dollars / ton, or 3.04% compared with July 30; and the price of pure benzene imported from East China was 445 US dollars / ton, unchanged from July 30.
In terms of crude oil, international oil prices rose in the first half of the week and fell in the second half. Compared with July 31, Brent was up $1.375 per barrel, or 3.21%, and WTI was up $0.92 per barrel, or 2.27%. Compared with December 31, 2019, Brent decreased by 33.71%, and WTI decreased by 31.73%.
On the downstream side, styrene inventory has increased recently, and the pressure of de stocking is still large. On August 7, the price of styrene in Shandong was 5366.67 yuan / ton, up 0.63% over last week.
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At present, the supply and demand of aniline enterprises are stable, and the price is less affected by pure benzene. On August 7, the price of aniline in Shandong was 4200-4330 yuan / ton, and that in Nanjing was 4300-4500 yuan / ton, which was stable compared with last week.
3、 Future forecast
In terms of crude oil, international tensions and the deadlock in negotiations on the new US stimulus plan hit the crude oil market, and it is expected that there will be a major breakthrough in oil prices next week.
At present, the port inventory of pure benzene is still rising, and there are still 20000-30000 tons of pure benzene waiting to be unloaded, which restricts the market situation of pure benzene. However, Sinopec’s tag price was raised, and the bottom support was stronger. It is expected that the rise of pure benzene will slow down next week and maintain the range fluctuation. In addition, attention should be paid to the impact of the safety self inspection incident on the storage of dangerous chemicals caused by the previous incident in Lebanon port.