From April 29 to May 7, 2022, the bidding price of crude benzene increased from 6673 yuan / ton last weekend to 6835 yuan / ton this weekend, with a weekly increase of 2.43%.
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International oil prices rose as a whole this week. On May 5, international crude oil futures continued the rise of the previous trading day and rose slightly. The settlement price of the main contract of WTI crude oil futures in the United States was US $108.26/barrel, up US $0.45 or 0.4%; The settlement price of the main contract of Brent crude oil futures was US $110.90/barrel, up US $0.76 or 0.7%. Earlier, the EU formulated a plan to gradually stop importing Russian oil, and the oil embargo triggered concerns about supply tightening. At the same time, the decline in demand caused by epidemic control measures in Asia, the strengthening of the US dollar and the downward pressure on global stock markets limited the rise of oil prices.
Summary of price adjustment of Sinopec pure benzene (unit: yuan / ton)
Date, Adjusted price, Adjustment amount
March 24, 8600.,+200
April 12, 8450.,-150
April 27, 8550.,+100
April 28, 8700.,+150
May 5, 8850.,+150
May 7, 8950.,+100
Sinopec raised the ex factory price of pure benzene twice in a row during the week. On May 7, 2022, Sinopec raised the listing price of pure benzene by 100 yuan / ton, with the implementation of 8950 yuan / ton.
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Other enterprises: Dongming Petrochemical offers 8650 yuan / ton, HSBC Petrochemical offers 9000 yuan / ton, Jincheng Petrochemical offers 8720 yuan / ton, Weilian chemical offers 8753 yuan / ton, Xinhai Petrochemical offers 8800 yuan / ton, and Hongrun Petrochemical offers 8900 yuan / ton.
From a fundamental point of view, the price of crude oil has continued to rise recently, and the price of pure benzene in the external market has kept rising. Basically, pure benzene has a good support. Sinopec has continuously raised the ex factory price of pure benzene to 8950 yuan / ton within the week, which once again boosted the confidence of the domestic market, and the price of local refining has increased significantly. In terms of inventory, at present, the inventory of pure benzene ports in East China has decreased continuously, while the inventory of some subordinate enterprises of Sinopec has tightened, and the price of pure benzene has risen all the way under multiple positive supports, By the time of publication, the price of pure benzene in the domestic mainstream market is about 8650-9000 yuan / ton, and the price of hydrogenated benzene is rising. At present, the market price in East China has risen to about 8850-8950 yuan / ton.
This week, the price of domestic crude benzene is dominant, and the regional price difference is obvious. The price of main production areas such as Shanxi, Hebei and Shandong has increased significantly. Among them, the bidding price of Shandong this week is 7260-7265 yuan / ton, up 330 yuan / ton compared with that before the festival. Some enterprises auctioned the supply of goods after the festival before the festival, and the pre Festival price is still implemented this week. Overall, the fundamentals are good, the support is strong, the rise of the industrial chain is obvious, and the downstream demand is OK. It is expected that the market will continue to maintain a stable medium strong trend in the near future. In the future, we will continue to pay attention to the impact of the international crude oil market, the external market, the dynamics of pure benzene and downstream devices, and changes in demand on the price of pure benzene.
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