1、 Price trend
| PVA 1799 (PVA BF17) |
According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly decreased this week. On November 27th, the price of pure benzene was 7498 yuan/ton, and on Friday (December 1st), the price of pure benzene was 7025 yuan/ton, a decrease of 8.07% from last week and an increase of 7.53% from the same period last year.
2、 Analysis and Review
This week, the price of Sinopec pure benzene was 7200 yuan/ton (prices in Shandong and Hebei regions fell by 550 yuan/ton simultaneously)
Downstream aspect
3、 Future Market Forecast
| POLYVINYL ALCOHOL |
In late December, pure benzene in the night market was discussed to have risen to around 7050 yuan/ton, but crude oil initially rose and then fell before finally closing down. It is expected that pure benzene in East China will fluctuate and consolidate in the morning.
Crude oil: Several oil producing countries have announced a new round of voluntary production cuts in the first quarter of next year, with a total scale of about 2.2 million barrels per day, at the OPEC+meeting. However, the market is concerned about the lack of official constraints on actual implementation, and international oil prices have fallen after a sharp rise. NYMEX crude oil futures contract 01 fell $1.90 per barrel, or 2.44%, at 75.96%; ICE oil futures contract 01 fell by $0.27 per barrel, or 0.32%, at 82.83. The main contract of China INE crude oil futures, 2401, rose 5.6 to 583 yuan/barrel, and fell 6.4 to 576.6 yuan/barrel in overnight trading.
Core logic: Yesterday, pure benzene had a slight upward trend in negotiations, but spot resource transactions were weak, and there was insufficient buying gas on the market. Most transactions were mainly made in distant months. Shandong refineries have weak willingness to hold goods and have significantly lowered prices to promote shipments. After the price drop, the market’s buying sentiment improved, and a large number of low-priced goods were purchased to deliver orders within the week, resulting in better transactions.
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