I. price trend:
On October 19, crude benzene commodity index was 63.89, unchanged from yesterday, down 51.54% from 131.84 (2013-01-28), the highest point in the cycle, and up 62.78% from 39.25, the lowest point on December 22, 2014. (Note: cycle refers to 2011-09-01 to now).
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II. Market analysis:
This week (10.14-10.18), the domestic crude benzene market fell in shock. The average price in the domestic market was 4118.67 yuan / ton at the beginning of the week, and 4080 yuan / ton at the end of the week, down 0.94%.
Domestic market: this week, Sinopec’s price of pure benzene was lowered by 150 yuan / ton to 5600 yuan / ton. The market was bearish, and prices in the main production areas fell on Thursday. As for the market, as of Friday, the mainstream price in Shanxi is 3750-3800 yuan / ton, and in Shandong is 3990 yuan / ton. At present, the market is lack of good support, and businesses are still bearish.
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Industry chain: crude oil: the overall international oil price rose first and then fell this week, with great volatility. Oil prices rose sharply last week as Iranian oil tankers attacked. In the later period, the International Monetary Fund lowered its economic growth expectations and the increase of us oil product storage, which increased market worries and led to a sharp drop in oil prices. WTI was down 0.35% and Brent was up 0.54% compared with last Friday (October 11). Pure benzene: this week, the pure benzene market has a strong bearish atmosphere. The coking industry continues to break new lows. In addition, some downstream maintenance in East China and North China has greatly reduced the demand. The pure benzene market continues to decline.
3. Trend forecast:
Next week, oil prices will continue to be low consolidation, the market bearish atmosphere is heavy. In terms of pure benzene, there are many overhauls and weak demand in North China market; in terms of some downstream units overhauls, the market support is weak, the trend of downstream products is weak, and the fundamentals are lack of comprehensive consideration. It is expected that the weak trend of crude benzene market will continue next week.
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