1、 Price trend

According to the bulk list data of business society, pure benzene maintained a range shock after a wide decline in early August, and the price rebounded slightly at the end of the month. On August 1, the price of pure benzene was 7900-8150 yuan / ton (average price 8170 yuan / ton), and on August 31, the price was 7500-7700 yuan / ton (average price 7590 yuan / ton), a decrease of 7.1% this month and an increase of 123.89% over the same period last year.

2、 Analysis and review

In the middle and early August: in terms of raw materials, delta virus spread in many countries, market concerns about limited demand recovery increased, and crude oil fell deeply; On the supply side, affected by typhoon weather and epidemic situation, the shipment of enterprises was limited, the inventory pressure increased, and the price fell sharply, maintaining a narrow range of shock; The high price of pure benzene in the period before demand led to increased resistance in the downstream, decreased operating rate of some enterprises and decreased demand for pure benzene.

In late August, crude oil rebounded sharply and the fundamental news improved; Near the end of the month, the delivery of enterprises was ok, and the price rebounded slightly.

Sinopec adjusted the price three times this month, reducing the price by 600 yuan / ton to 7550 yuan / ton.

In terms of crude oil, the trend of crude oil fluctuated and rose after falling in August. The market is still concerned about the impact of delta mutation virus on demand recovery. Compared with July 30, Brent fell by US $3.34/barrel, or 4.38%; WTI fell $4.45/barrel, or 7.37%.

In terms of external market, as of August 31, the reference price of pure benzene in the Korean market was US $967 / ton, down US $43 / ton or 4.26% from July 30; The reference price of pure benzene imported from East China was US $995 / ton, down US $27.5/ton or 2.69% from July 30.

Downstream, styrene: the price of styrene fluctuated downward in August. The production price in Shandong was 9337.5 yuan / ton on August 1 and 8762.5 yuan / ton on August 31, with a monthly decrease of 6.16% and an increase of 65.33% over the same period last year.

Aniline: in the first half of August, aniline fluctuated in a narrow range. From the second half of the month, the price rose continuously and fell slightly near the end of the month. On August 31, the price of aniline in Shandong was 10700-10900 yuan / ton; The price of aniline in Nanjing was 11100-11200 yuan / ton, an increase of 3.16% over the beginning of the month and 149.81% over the same period last year.

3、 Future forecast

On the raw material side, the trend of crude oil is full of uncertainty. The spread of delta virus still restricts the recovery of demand, and international oil prices are under short-term pressure. In the future, we will continue to pay attention to the impact of the epidemic situation, OPEC + decisions on crude oil production, the inventory dynamics of crude oil and refined oil in the United States, and the global economic situation on crude oil prices.

The performance of raw materials and downstream main products is poor, and the action force on pure benzene is insufficient. It is expected to continue the range consolidation in the short term. In September, demand may pick up. Continue to pay attention to the downstream market, the dynamics of domestic pure benzene units, and the impact of crude oil, external market and other trends on the price of pure benzene.