From June 2 to June 10, 2022, the bidding price of crude benzene was raised as a whole. It was 7345 yuan / ton at the end of last week and 7947 yuan / ton at the end of this week, with a weekly increase of 8.2%.

On June 9, international crude oil futures closed down. The settlement price of the main contract of us WTI crude oil futures was US $121.51/barrel, down US $0.60 or 0.5%; The settlement price of the main contract of Brent crude oil futures was US $123.07/barrel, down US $0.51 or 0.4%. The oil price is still running at a high point, with little change in supply and demand fundamentals. This was mainly driven by the sharp rise in refined oil products, and oil prices were supported by the expectation of tight supply and demand growth.

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

Date, Adjusted price, Adjustment amount

June 6, 9500.,+200

June 8, 9700.,+200

June 10, 10000.,+300

Sinopec raised the ex factory price of pure benzene. On June 8, 2022, Sinopec raised the listing price of pure benzene by 300 yuan / ton to 10000 yuan / ton.

Other enterprises: HSBC Petrochemical offers 10000 yuan / ton, Weilian chemical offers 10003 yuan / ton, Xinhai Petrochemical offers 10000 yuan / ton, and Hongrun Petrochemical offers 9900 yuan / ton.

This week, the crude oil price rose as a whole, and the external price of pure benzene rose, which provided a good support for the fundamentals of the industrial chain. This week, Sinopec continuously raised the production price of pure benzene, which once again boosted market confidence, and local refining enterprises followed suit. Over the weekend, it was reported that an accident occurred in a factory in South Korea, resulting in the shutdown of about 380000 tons of pure benzene production capacity, and the market speculation was positive. This week, the inventory of pure benzene in East China fell significantly, and the overall support of the market was strong. However, Shandong was dragged down by poor downstream demand. Although the price rose positively this week, there was still a certain price difference with East China, and the actual transaction was weak. At present, the mainstream price of pure benzene in China is 8750-9350 yuan / ton, and the price of hydrogenated benzene fluctuates with that of pure benzene. At present, the market price in East China has risen to about 9200-9300 yuan / ton.

Buoyed by the favorable industrial chain, the bidding price of crude benzene market increased significantly this week. In Shandong Province, 7970 ~ 7975 yuan / ton was implemented. In terms of coking enterprises, the start-up was slightly lower this week, and the supply of crude benzene was slightly tight. After the first round of coke increase was implemented this week, the mentality of coking enterprises improved, and the start-up may be improved. In the downstream, the recent trend of hydrobenzene is good. Is the enterprise active in operation? The overall operating rate is more than 70%, and the demand for crude benzene is well supported. From the perspective of future market, at present, the fundamentals are favorable and the support is strong, and the downstream demand is OK, boosting the overall trend of the industrial chain. It is expected that the market will maintain a stable, medium and strong trend in the near future. In the future, we will continue to pay attention to the impact of international crude oil market, external market, pure benzene and downstream device dynamics, demand side changes, etc. on the price of pure benzene.