According to business agency data monitoring, in June, o-benzene Sinopec contract price struggled to rise. In the first ten days of June, the price of o-benzene rose by 100 yuan / ton, and then rose again in the middle of June. However, the rising market was not firm. Sinopec’s price rise in East China and North China was different. The price of o-benzene in North China increased by 200 yuan / ton, and that in East China rose by 100 yuan / ton. After that, the price of o-benzene remained stable. The main reason for the contrast of the market price of o-benzene is that the market has different opinions on the future market of o-benzene, and some customers are bearish on the future market of o-benzene.
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Price trend of raw materials
It can be seen from the price trend chart of mixed xylene that since June, the price of mixed xylene has risen first and then decreased, and the cost of raw materials of o-benzene has risen first and then decreased. The price of mixed xylene has risen sharply in the first ten days of June, and then dropped sharply in the middle of June. The price of mixed xylene dropped, the cost of o-benzene decreased, and the market of o-benzene was negative, making the future market of o-benzene bearish.
Trend of downstream products
It can be seen from the phthalic anhydride price trend chart that the trend of phthalic anhydride price in the first and second half of June is completely different. The price of phthalic anhydride rose sharply in the first ten days, stabilized in the middle of the year, and decreased slightly in the last ten days. The price support of phthalic anhydride in the first and second half of the year is the main supporting factor for the rise of o-benzene, while the price of phthalic anhydride falls in the last ten days, which increases the negative pressure on the market of o-benzene.
According to Bai Jiaxin, an o-xylene data analyst at the business club, the o-xylene market rose in June, but with the stability of the industrial chain market and a small drop in price, the support for the rise of o-xylene was insufficient and the downward pressure was increased. Although the price of industrial chain products is still at a high level, the downward pressure of o-benzene is increasing, the rising support is weakening, and the market bearish psychology is increasing. It is expected that the market of o-benzene will be bearish in the future.