This week, the market price of pure benzene in China rose slightly (8.4-8.8)

August 8th News

I. Price Trends

According to the commodity market analysis system, the price of pure benzene in China rose this week. The price of pure benzene was 6,002 CNY per ton on Monday and 6,142 CNY per ton on Friday, with a weekly increase of 2.33%.

II. Market Analysis

Pure benzene: This week, the market price of pure benzene in China has increased. With the commissioning of new styrene plants downstream, the demand for raw materials has increased, and the number of imported shipments this month has decreased, which is beneficial to the pure benzene market. However, the trend of crude oil is weak, and after the increase in the price of pure benzene, there is a strong wait-and-see sentiment in the market. Affected by crude oil futures, the current buying interest in the pure benzene market in China is low, and transactions are cautious.

III. Future Market Forecast

Crude oil futures: On August 7, international crude oil futures closed lower. The settlement price of the September contract for U.S. WTI crude oil futures was reported at $63.88 per barrel, a decrease of $0.47 or 0.7%. The settlement price of the October contract for Brent crude oil futures was reported at $66.43 per barrel, a decrease of $0.46 or 0.7%.

Foreign market benzene: On August 7, FOB Korea fell by $5 to $737/ton, and CFR China fell by $4 to $750/ton. FOB Rotterdam rose by $3 to $724/ton, while FOB US Gulf fell by $4 to 271 cents/gallon.

Comprehensive forecast: In the short term, the pure benzene market in China will experience minor fluctuations, with cautious trading. Market participants are observing cost and demand factors. Continued attention should be paid to the trends in crude oil and foreign markets, as well as the operational dynamics of pure benzene and downstream facilities, and changes in demand, which will impact the price of pure benzene.