1、 Price trend
According to the data of the bulk list of business associations, the listed price of pure benzene was 3450-3850 yuan / ton on June 1, and 3120-3500 yuan / ton on June 30 (with an average price of 3330 yuan / ton), which was 270 yuan / ton lower than that on June 1, and 7.5% lower this month. The highest price of this month is from June 11 to 14, with an average price of 3750 yuan / ton; the lowest price is on June 30, with the price of 3330 yuan / ton and the price difference of 420 yuan / ton.
| Sulfamic acid |
2、 Analysis and comment
In the first ten days of this month, the rising trend of pure benzene continued last month, and the operating rate of petrochemical enterprises also increased. Thanks to the gradual improvement of the macro-economic situation, the crude oil market has repeatedly received good news. Driven by the rising cost, pure benzene, as a direct related product of crude oil downstream, also rose. Public health events in foreign countries have improved, and the price of pure benzene in the external market is also rising, forming a favorable support for the domestic market. From June 1 to 10, Sinopec raised the total amount of 250 yuan / ton to 3700 yuan / ton.
The operating rate increased, supply increased, and port inventory continued to rise since March, resulting in weak pure benzene Market in the middle of the year. On the 15th, Sinopec’s listing price was lowered by 100 yuan / ton to 3600 yuan / ton.
Due to the inventory in the late ten days of the port, as well as the inventory pressure is difficult to release. Downstream market is generally weak, styrene, aniline loss, thus the purchase of pure benzene is also weak. Under the condition of oversupply, the price of pure benzene fell all the way, and the local refining price in Shandong Province was generally low. From June 20 to 30, Sinopec’s listed price of pure benzene was reduced by 300 yuan / ton to 3300 yuan / ton.
International crude oil rose in June. Thanks to the macroeconomic recovery and the agreement of OPEC and its allies to extend the current production reduction agreement to the end of July, oil prices generally showed an upward trend in June. In the last ten days of the year, the epidemic situation in the United States did not decrease, but increased. Uncertainty in the second wave of the epidemic situation restricted the rise of oil prices. Compared with May 31, Brent oil price increased by 7.45 USD / barrel, or 21.67%; WTI oil price increased by 3.5 USD / barrel, or 9.77%. Compared with December 31, 2019, Brent oil price decreased by 37.36%; WTI oil price decreased by 35.26%.
At the end of June, the price of external market did not differ much from that at the beginning of the month, and the overall guidance was downward. On June 30, South Korea imported 396.67 US dollars / ton of pure benzene, down 1.33 US dollars / ton, or 0.33% compared with the previous month; and that of East China was 397.5 US dollars / ton, down 9.5 US dollars / ton, or 2.33% compared with the previous month
Downstream, styrene: on June 1, the price of styrene in Shandong was 5500 yuan / ton, and 5400 yuan / ton on June 30, with a monthly decrease of 1.82%. The highest price of this month appeared on June 3-4 and 8, with the price of 5600 yuan / ton.
| sulphamic acid |
Aniline: on June 1, the price of aniline in Shandong was 4400 yuan / ton, and that in Nanjing was 4500 yuan / ton; on June 30, aniline price in Shandong was 4300 yuan / ton, and that in Nanjing was 4500 yuan / ton, a decrease of 1.5% this month. The fluctuation range of aniline price is not large, and the operation is mainly large, stable and small dynamic.
3、 Future forecast
With the rise of oil prices, the oil fields and drilling platforms that were closed before may resume operation, and the rise of oil prices may slow down. In addition, the U.S. epidemic will continue to affect oil prices further.
The atmosphere of the downstream market is weak, and the inventory is overstocked due to the high opening rate of petrochemicals. The short-term oversupply situation is difficult to change. It is expected that the price of pure benzene will break through difficulties in July.
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