The crude benzene commodity index on June 30 was 39.65, unchanged with yesterday, 69.93% lower than 131.84 (2013-01-28), and 29.83% higher than the lowest point of 30.54 on April 8, 2020. (Note: period refers to 2011-09-01 to now).
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In June 2020, the crude benzene market will rise first and then restrain. The ex factory price in North China will be 2801.67 yuan / ton at the beginning of the month and 2531.67 yuan / ton at the end of the month, with a monthly drop of 9.64%.
Summary of Sinopec pure benzene price adjustment in June 2020 (unit: yuan / ton)
Price adjustment amount after date adjustment
June 5 3600 + 100
June 10 3700 + 100
June 15 3600 – 100
19 June 3550 – 50
June 23 3500 – 50
June 24 3450 – 50
June 28 3250 – 200
In June 2020, Sinopec increased the ex factory price of pure benzene twice and lowered it five times, with a cumulative decrease of 250 yuan / ton. By the end of the month, Sinopec North China pure benzene implemented 3250 yuan / ton, down 250 yuan / ton compared with the previous month.
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At the beginning of the month, the domestic crude benzene price went up. Under the influence of the upward trend of international crude oil, the external market of pure benzene and the increase of Sinopec’s listed price of pure benzene, the bidding price of crude benzene was greatly increased. In addition, the operating rate of downstream hydrogenated benzene enterprises had reached a high level in 2020, which promoted the price of crude benzene to further increase, the market mentality was good, and the market recovered significantly. Sinopec Huabei lowered the price of pure benzene twice in a row in the middle of June, with a cumulative reduction of 150 yuan / ton and the implementation of 3550 yuan / ton. The external market of pure benzene also continued to decline, which affected the overall mentality of the crude benzene market. In addition, after the crude benzene price was raised on November 11, the downstream hydrobenzene enterprises’ cost pressure increased, and they were more resistant to the high price crude oil. The market mentality was poor, the bearish atmosphere was strong, and the receiving situation was not good. Crude benzene fundamentals were under pressure, and crude benzene fell back to the increase of this month, and the price was basically the same as that at the beginning of the month. After entering the last ten days of the year, the new round of tender price of crude benzene was significantly lowered in advance on the last working day before the festival. The bidding price of mainstream enterprises in Shandong was 2530-2535 yuan / ton, with a reduction rate of about 350 yuan / ton. The pure benzene market continued to decline. Sinopec adjusted the price of pure benzene to 3450 yuan / ton for two consecutive days, The reduction range was 100 yuan / ton, and the external market of pure benzene also continued to decline. In addition, the frequent rise and fall of crude oil market in recent years led to the aggravation of market wait-and-see sentiment. The high port inventory of pure benzene affected the overall mentality of the crude benzene market. The bearish atmosphere was strong and the situation of receiving goods was not good. The crude benzene price entered the downward channel.
In terms of supply, although the coking enterprises in Shandong and Shanxi are affected by various production restriction factors, the operating rate has decreased to a certain extent, but the current profits of coke are high, the downstream demand is strong, the coking enterprises start higher, the overall supply of crude benzol has not decreased, and the overall inventory is on the high side. The crude benzene inventory purchased by downstream hydrobenzene enterprises on a bargain in the early stage is more, which is not digested in a short period of time In the end, the overall social inventory is high, crude benzene price is difficult to have action.
Price changes of domestic main hydrobenzene markets in June 2020 (unit: yuan / ton)
Monthly price rise and fall on the 15th and 30th
East China 3500-3600 3700 ～ 3800 3000-3150-475
Shandong area 3400-3500 3650-3700 3000-3050-425
Negative factors occurred frequently in the downstream hydrobenzene market. The hydrobenzene market fundamentals were under pressure in June when the price of pure benzene continued to decline. As the price of pure benzene continued to decline, the pressure of enterprise cost increased, and the crude benzene price was continuously suppressed. The downstream start-up of hydrobenzene also continued to decline this month. The whole industrial chain is in the downward channel, and the downstream demand pressure of crude benzene market is large.
In the aftermarket, the business community believed that crude oil prices suck, the whole industry chain market sentiment was strong, the port inventory of benzene was high, prices continued to decline, crude benzene social inventory was high, downstream demand was not strong, crude benzene market pressure was bigger, the crude benzene market pressure was expected to be greater in the near future, and the future market still needs to focus on crude benzene and benzene inventory.
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