Price trends:
In July 2019, the hydrobenzene market shook sharply. The ex-factory price in North China was 4583.33 yuan/ton at the beginning of the month and 4950 yuan/ton at the end of the month, with a monthly increase of 8%.
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On July 31, the hydrobenzene commodity index was 54.64, down 1.1 points from yesterday, down 46.44% from the peak of 102.01 points in the cycle (2014-01-09), and up 22.62% from the low of 44.56 points on August 31, 2015. (Note: Period refers to 2013-12-01 to date).
II. Market analysis:
Domestic market: Hydrobenzene market first restrained and then rose by 8% monthly. In the first half of this month, the price continued to rise, mainly due to the increase of pure benzene external market and Sinopec’s listed price of pure benzene. Hydrobenzene market has been rising positively. Shandong’s market price has risen to 5250-5350 yuan/ton all the way, together with coke price. The profit of coking enterprises is still acceptable, the start-up level is relatively stable, and the supply of crude benzol in the upstream remains stable. The whole crude benzol industry chain is on the rise. After mid-ten days, with the downstream demand has not been liberalized, on-site supply is still more abundant, low-level supply increases, downstream just need to enter the market price pressure is obvious, coking enterprises have greater pressure on goods, although the price of pure benzene listed has not changed much, but the lack of strong support, prices began to decline.
Industry Chain: Crude Oil: In July, European and American crude oil prices rose first and then fell. Oil distribution fell 4.27% from the end of last month, while U.S. crude oil fell 2.74% from the end of last month. At the beginning of this month, oil prices rose to their highest level on July 10 due to the extension of OPEC production reduction agreement, the continuous decline of U.S. crude oil stocks and the reduction of nearly one third of U.S. offshore crude oil production by the Gulf of Mexico storm. Oil and gas production resumed after the Gulf of Mexico storm. EIA data show that the increase in U.S. refined oil inventories has deepened market concerns about economic slowdown and oil prices have fallen sharply. At the end of the month, the Fed’s desire to cut interest rates increased and crude oil prices in Europe and the United States rebounded slightly. Pure Benzene: Pure Benzene port inventory fell sharply and imports fell sharply, domestic pure benzene prices began to rise. In addition to the shortage of pure benzene supply in the United States, the price of pure benzene in the U.S. dollar disk has been rising, stimulating the domestic market, pure benzene all the way up to the highest price on the 22nd. Later downstream of high-price pure benzene resistance is strong, the demand support is insufficient, the external market continued to weaken, leading to a rapid decline in domestic pure benzene Market prices.
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3. Trend forecast:
At the end of the month, traders concentrate on delivering goods, and the market enters the downward range. The atmosphere in the market is poor. Most traders are short-sighted, not enthusiastic and have limited actual transactions. In addition, the market has a downward expectation of Sinopec’s pure benzene listing price, and it is expected that the market will remain short-sighted in the near future.
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