1、 Price trend:

In February 2020, the hydrogenated benzene market fell in shock. The factory price in North China was 5533.33 yuan / ton at the beginning of the month, and 5133.33 yuan / ton at the end of the month, with a monthly decline of 7.23%.

On February 28, the hydrogenated benzene commodity index was 56.66, unchanged from yesterday, down 44.46% from 102.01 (2014-01-09), the highest point in the cycle, and up 27.15% from 44.56, the lowest point on August 31, 2015. (Note: cycle refers to 2013-12-01 to now).

2、 Market analysis:

Domestic market: this month, the cost pressure of hydrobenzene enterprises is still the same. Since the first ten days of February, the operating rate of hydrobenzene enterprises has continued to rise, and the demand for crude benzene has increased slowly. However, the recent operating load of coking enterprises is only about 60% lower. In addition, due to the impact of transportation, the price of crude benzene has soared, and the coking enterprises are in a strong mood of pricing. The operating rate of downstream styrene and aniline units is still low. The overhaul in March There are many plans. Crude oil and pure benzene fell sharply, the port inventory remained at about 80000 tons, Sinopec’s listing price of pure benzene was reduced to 5350 yuan / ton at the end of the month, with low market demand and high cost pressure on hydrogenated benzene enterprises.

Industry chain: in terms of crude oil: this week, the crude oil changed the form of continuous increase last week, falling for four consecutive days, and WTI fell to the lowest point of this year. The spread of the epidemic in many countries has led to increased market worries and a pressure drop in oil prices. Brent was down 10.76% and WTI was down 11.41% compared with February 21.. Pure benzene: this week, the trading atmosphere of pure benzene was weak, crude oil and external market fell, and the support under pure benzene was insufficient. The lack of downstream shipping power and inventory accumulation further worsened the confidence of pure benzene market participants. On Wednesday, Sinopec cut the price of pure benzene by 150 yuan / ton to 5350 yuan / ton. Downstream: demand for downstream styrene is not strong, and inventory pressure is high. Friday’s price is 6700 yuan / ton, up 1.01% from last week.

3、 Trend Forecast:

At present, the general loss of hydrogenated benzene enterprises is about 300 yuan / ton, the enterprise cost pressure is prominent, the external market of pure benzene continues to decline, the downstream construction cannot be recovered in a short time, and it is expected that the hydrogenated benzene market will remain weak and stagnant.