1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the market price of pure benzene in Shandong Province first fell and then rose this week, indicating an overall decline in prices. On Monday, the price of pure benzene was 5318.67 yuan/ton, and on Friday it was 5305.33 yuan/ton, with a price drop of 0.25% during the week.
2、 Market analysis
Pure benzene: This week, Sinopec’s refineries in East and South China have lowered the price of pure benzene by 200 yuan to 5450 yuan/ton. Recently, there have been reports of maintenance plans for market supply equipment, which has increased the purchasing enthusiasm of traders. In addition, yesterday’s increase in crude oil prices and the rise in external pure benzene prices have boosted confidence in the market, resulting in a slight increase in pure benzene market prices today.
Downstream aspects
3、 Future forecast
Crude oil futures: On October 23rd, international crude oil futures rose sharply. The settlement price of the December WTI crude oil futures contract in the United States was $61.79 per barrel, an increase of $3.29 or 5.6%. The settlement price of Brent crude oil futures for December was $65.99 per barrel, an increase of $3.40 or 5.4%.
Foreign pure benzene: On October 23rd, FOB Korea rose by 11 to 677 US dollars per ton, and CFR China rose by 10 to 692 US dollars per ton. FOB Rotterdam rose by $17 to $676 per ton, while FOB US Gulf rose by $1 to $247 per gallon.
Overall forecast: Short term pure benzene prices are expected to experience strong fluctuations, with cautious trading. Observe the cost and demand side news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.