This week, the market price of pure benzene in China has slightly increased (11.10-11.14)

November 14, news

I. Price Trends

According to the commodity market analysis system, the market price of pure benzene in Shandong region of China increased slightly this week. The price of pure benzene was 5205.33 CNY/ton on Monday and 5215.33 CNY/ton on Friday, with a weekly increase of 0.19%.

II. Market Analysis

Pure benzene: The market price of pure benzene has slightly increased. Yesterday, the crude oil price rose positively, and the price of pure benzene in the external market went up, boosting confidence in the pure benzene market, which is beneficial for pure benzene in China. The buying sentiment in the downstream market has improved. Refining enterprises in Shandong have slightly raised their quotations, and the overall market is showing a strong trend.

Downstream sector

III. Market Forecast

Crude Oil Futures: On November 13, international crude oil futures initially fell before rebounding. The December contract for U.S. WTI crude oil settled at $58.69 per barrel, marking a price increase of $0.20, or 0.3%. Meanwhile, the January contract for Brent crude oil closed at $63.01 per barrel, up $0.30, or 0.5%.

Foreign market benzene: On November 13, FOB Korea rose by $3 to $662 per ton, while CFR China increased by $5 to $676 per ton. Meanwhile, FOB Rotterdam climbed by $4 to $696 per ton, and FOB U.S. Gulf edged up by 2 cents to 261 cents per gallon.

Comprehensive forecast: In the short term, the pure benzene market in China is expected to operate strongly, with cautious trading. There will be a wait-and-see attitude towards cost and demand news. Continued attention will be paid to the impact of crude oil and foreign market trends, as well as the dynamics of pure benzene and downstream facilities, and changes in demand on the price of pure benzene.