Main domestic hydrogenated benzene market prices this month (unit: yuan/ton)

According to the commodity market analysis system of Business Society, in April 2024, the hydrogenated benzene market rose in the first half of the month and fluctuated in the second half of the month. The ex factory price of hydrogenated benzene in North China was 8450 yuan/ton at the beginning of the month and 8666.67 yuan/ton at the end of the month, with a monthly increase of 2.56%.

Crude oil prices: In April, the international oil price trend first rose and then fell. In the first half of the month, the oil price fluctuated from a high level before falling, and in the second half, it fluctuated. In the first half of the month, due to the unstable geopolitical situation, especially concerns about the possible escalation of conflict between Iran and Israel after April, it provided strong support for international oil prices. On the other hand, US energy companies have cut the number of oil and gas drilling rigs for the fourth consecutive week, the first time since September 2023. Finally, the global outlook for future oil demand is optimistic, supported by positive factors, and crude oil prices rose in the first half of April. The risk of conflict in the Middle East region will decrease in the second half of the month, and the market expects that the possibility of the US escalating sanctions on Iran’s oil exports will also decrease. As the market’s concerns slow down, the positive international oil supply has dissipated, to some extent smoothing out the risk premium of crude oil. At the end of the month, due to the expected improvement in crude oil demand and the decrease in US crude oil inventories, crude oil prices rose slightly again. As of the 26th, the settlement price of the US WTI crude oil futures main contract was $83.85 per barrel, and the settlement price of the Brent crude oil futures main contract was $88.21 per barrel.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has seen more ups and downs in recent times.

In April 2024, Sinopec’s listed price for pure benzene increased by a total of 250 yuan/ton, and the price has not changed since April 7th. Currently, it is still priced at 8800 yuan/ton.

Other companies: Jingbo Petrochemical quoted 8700 yuan/ton, HSBC Petrochemical quoted 8800 yuan/ton, Weilian Chemical quoted 8683 yuan/ton, Xinhai Petrochemical quoted 8700 yuan/ton, and Hongrun Petrochemical quoted 8800 yuan/ton.

At the beginning of the month, geopolitical warming drove up crude oil prices. After the opening of the Qingming Festival, the pure benzene market continued to rise, driving up the industrial chain market. The ex factory price of hydrogenated benzene was raised to around 8800 yuan/ton. Later, with the decline of crude oil and news of downstream equipment maintenance, the market slightly adjusted and maintained a high volatility trend. In mid to late April, the overall fluctuation of the pure benzene industry chain was not significant, and the ex factory price of hydrogenated benzene enterprises remained at 8600-8800 yuan/ton.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. After entering 23 years, the hydrogenated benzene market has seen more ups and downs. In May, the market continued to decline for two consecutive months, while in July and August, it continued to rise for two consecutive months. The weekly K-bar chart shows that the hydrogenated benzene market has seen more gains than losses in recent times.

In terms of supply, hydrogenation benzene enterprises started construction in the first half of April and the supply was relatively stable. In the second half of the month, raw material prices continued to rise, resulting in lower profits for enterprises. The production of hydrogenated benzene enterprises has significantly declined, and some enterprises have plans to repair and park in the future. The market expects a tightening of supply in the future. As demand approaches the end of the month, some downstream enterprises have reported parking plans, and the market expects a decline in future demand, which has a certain impact on the market atmosphere. At the end of the month, the hydrogenated benzene market followed a slight decline in pure benzene. Lack of demand support is expected to put pressure on the hydrogenation benzene market in the future, and the market is expected to operate weakly in the short term.