Price rise and fall of main domestic hydrogenated benzene market from October 29 to November 4 (unit: yuan / ton)

Region. Price on October 29. Price on November 5. Weekly rise and fall

East China, 7650., 7600. – 50

Shandong Province, 7550., 7500. – 50

This week (October 29 to November 4), the market price of hydrogenated benzene in Shandong decreased, from 7650 yuan / ton last weekend to 7600 yuan / ton this weekend, down 50 yuan / ton.

Summary of price adjustment of Sinopec pure benzene in 2021 (unit: yuan / ton)

Date., adjusted price., adjusted amount

October 8, 8000., + 300

October 11, 8400., + 400

October 26, 8100. – 300

October 28, 7600. – 500

In October 2021, the listing price of Sinopec’s pure benzene was raised twice and lowered twice. As of October 28, it was 7600 yuan / ton, of which Qilu Petrochemical was 7550 yuan / ton. Others: Dongming Petrochemical quoted 7700 yuan / ton, HSBC Petrochemical quoted 7600 yuan / ton, Jincheng Petrochemical quoted 7600 yuan / ton; Weilian chemical offers 7603 yuan / ton, Xinhai Petrochemical 7600 yuan / ton and Hongrun petrochemical 7550 yuan / ton.

Crude oil prices fell during the week. On November 3, international oil prices fell sharply. The settlement price of the main contract of WTI crude oil futures in the United States was US $80.86/barrel, down US $3.05 or 3.6%, and the settlement price of Brent crude oil futures was US $81.99/barrel, down US $2.73 or 3.2%. WTI and Brent crude oil both recorded the largest closing decline since August 2. At the macro level, the Fed tightened its monetary policy expectations and reduced the scale of bond purchases. In addition, the US Energy Information Administration (EIA) reported yesterday that the US crude oil inventory increased more than expected last week, dragging down oil prices.

Commencement of main units downstream of benzene hydrogenation in November 2021

Recently, the overall operation of downstream units has declined, and the demand for pure benzene and hydrogenated benzene has decreased.

In terms of pure benzene, the price was weak this week, the price of styrene turned down, the market mentality of pure benzene in East China fell, the bidding price in the downstream of Shandong fell, driving the price of pure benzene down, the on-site wait-and-see increased and the negotiation was light. In terms of demand, there are many centralized maintenance of downstream units, the demand for pure benzene and hydrogenated benzene is suspended, and the market price is weak in the near future. The price decline of downstream products once again affected the market mentality of pure benzene and hydrogenated benzene. In terms of future fundamentals, there are many negative factors at present, and the sharp decline in the crude oil market affects the market mentality. From the perspective of supply and demand, the market demand will recover after the restart of downstream units in November, but it will take a certain time. It is expected that the operation of hydrogenated benzene will remain stable and weak in the short term.