Price of pure benzene fell for two weeks (June 22-28, 2020)

1、 Price trend

 

According to the data of the business club’s large scale list, the price of pure benzene continued to decline this week. On June 21, the price of pure benzene was 3350-3750 yuan / ton (average price 3630 yuan / ton); on Sunday (June 28), the price of pure benzene was 3250-3500 yuan / ton (average price 3360 yuan / ton), 270 yuan / ton, 7.44% lower than last week.

 

sulphamic acid

2、 Analysis and comment

 

This week, Sinopec’s listing price of pure benzene was reduced by 300 yuan / ton compared with last week, and the listing price was 3200 yuan / ton; Sinopec’s listing price of pure benzene was reduced by 400 yuan / ton for two consecutive weeks. Port inventory is high, picking up speed is slow, inventory pressure is difficult to release. The inventory of Shandong refining enterprises increased, driving prices down continuously.

 

The external pure benzene fluctuated in a narrow range for three consecutive weeks, which did not provide enough support for the domestic market. On Friday (June 26), South Korea imported 424.33 US dollars / ton of pure benzene, down 5.34 US dollars / ton, or 1.24% from June 19; East China imported 420.5 US dollars / ton of pure benzene, down 12 US dollars / ton, or 2.77% from June 19.

 

This week’s overall decline in crude oil, three consecutive weeks of growth in U.S. crude oil inventories, and signs of aggravating U.S. public health events, offset the positive effects of production cuts. Brent was down $1.925, or 4.51%, this week from June 19, while WTI was down $1.18, or 2.96%. Compared with December 31, 2019, Brent decreased by 38.94% and WTI by 36.4%

 

Sulfamic acid 

Downstream, as of June 27, the price of styrene in Shandong was 5450 yuan / ton, down 33.33 yuan / ton or 0.61% from last week.

 

Aniline enterprises are in a state of loss, and the operating rate has declined. On June 28, the price of aniline was 4300-4390 yuan / ton in Shandong and 4500-4820 yuan / ton in Nanjing.

 

3、 Future forecast

 

Crude oil bears a prominent negative position, but the downward range is not large in the context of production reduction. Most of the downstream products are in the state of loss, and acetone, which had a good early rise, also fell sharply, falling below 10000 yuan / ton. The port inventory of pure benzene is difficult to decline in the short term, dragging down the price. It is expected that the price of pure benzene will still fall next week.

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