This week, the market price of pure benzene in China showed a slight fluctuation and increase (8.18-8.22)

August 22nd News

I. Price Trends

According to the commodity market analysis system, the domestic pure benzene market price showed a slight fluctuation and increase this week. On Monday, the price of pure benzene was 6,145.33 CNY per ton, and by Friday, it had risen to 6,272 CNY per ton, with a weekly price increase of 0.43%.

2. Market Analysis

Pure benzene: Today, market prices for pure benzene edged slightly higher. Yesterday, international crude oil futures closed higher, boosting trading sentiment in the benzene market and leading refineries and traders to maintain firm pricing offers. However, frequent reports of downstream plant maintenance activities may dampen future demand, resulting in weak follow-through from buyers with immediate needs. As a result, the overall price increase remained limited.

Downstream side

III. Market Forecast

Crude Oil Futures: On August 21, international crude oil futures continued their upward trend. The October contract for U.S. WTI crude oil settled at $63.52 per barrel, marking a price increase of $0.81, or 1.3%. Meanwhile, the October contract for Brent crude oil closed at $67.67 per barrel, up $0.83, or 1.2%.

Foreign market pure benzene: On August 21, FOB Korea rose by $4 to $736 per ton, while CFR China increased by $3 to $751 per ton. Meanwhile, FOB Rotterdam climbed by $2 to $671 per ton, and FOB U.S. Gulf surged by $5 to 265 cents per gallon.

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