The price of crude benzol increased in a narrow range (from March 3 to March 10)

From March 3 to March 10, 2023, the bidding price of crude benzene increased by a narrow margin, from 5878 yuan/ton at the end of last week to 5925 yuan/ton at the end of this week, with a weekly increase of 0.8%.


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In terms of crude oil, this week’s crude oil market was shrouded in a negative atmosphere. The market was worried that the Federal Reserve might raise interest rates aggressively, which would add to the sharp increase in the United States refined oil storage. Concerns about the future economic and demand prospects remained. International crude oil futures rose on March 10. The settlement price of the main contract of US WTI crude oil futures was 76.68 US dollars/barrel, up 0.96 US dollars or 1.3%. The settlement price of the main contract of Brent crude oil futures was 82.78 US dollars/barrel, up 1.19 US dollars or 1.5%.


The ex-factory price of Sinopec pure benzene increased by 100 yuan/ton on March 8, 2023, and the current price is 7200 yuan/ton.


Other enterprises: Jingbo Petrochemical quoted 7400 yuan/ton, HSBC Petrochemical quoted 7300 yuan/ton, Weilian Chemical quoted 7203 yuan/ton, Xinhai Petrochemical quoted 7350 yuan/ton, and Hongrun Petrochemical quoted 7300 yuan/ton.


The commodity price K-bar chart uses the concept of price trend K-line to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy and sell investments according to the changes in the K-bar chart. Red indicates: rising; Green means: down; The height of the K column indicates the range of rise and fall. The weekly K-column chart of pure benzene shows that after entering July, the price of pure benzene has continued to decline, slightly warmed at the end of August and the beginning of September, the price of pure benzene has mainly declined from October to December, warmed in January, and increased slightly for five consecutive weeks after February.


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In terms of industrial chain: the market price of pure benzene continued to maintain a slight upward trend this week. The crude oil trend of this week rose in the first half of the week and declined in the second half of the week. However, the downstream styrene market strengthened, boosting the mentality of the pure benzene market. The pure benzene market rose slightly this week. However, the downstream side has been more wait-and-see recently, and the overall purchase intention is low. The trend of hydrogenation benzene market basically follows that of pure benzene, with a slight increase this week as the main trend, which also boosts the downstream crude benzene market.


The crude benzene market continued to adjust slightly this week, with the overall price rising slightly. The main production area in Shandong Province is 6060 yuan/ton, a slight increase of 80 yuan/ton compared with last week. On the supply side, the operating rate of coking enterprises this week remained high, and crude benzene supply was slightly loose. In terms of demand, the hydrogenation benzene market is still in operation, and the demand for crude benzene still exists. The price rise this week is mainly due to the impact of the overall high volatility of the industrial chain, and the downstream demand is still good, driving the market price to rise steadily. However, the trend of crude oil in the current cycle is slightly low, and the price has continued to decline, which has dragged down the mentality of some markets. Due to the large volatility of crude oil in the recent period, the market guidance is insufficient. In a comprehensive view, the business community expects that the crude benzene market price will be mainly adjusted in a narrow range. The future market will focus on the impact of the trend of basic products such as crude oil and styrene on the market mentality.

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