This Week's Pure Benzene Market Prices Show Slight Fluctuations (2.2-2.6)

February 6 news

I. Price Trends

According to the commodity market analysis system, this week, the pure benzene market prices in Shandong region of China fluctuated slightly. The price of pure benzene was 6,186.67 CNY per ton on Monday and 6,196.67 CNY per ton on Friday, with a weekly increase of 0.16%.

II. Market Analysis

Pure benzene: This week, the pure benzene market prices in Shandong region have shown a slight fluctuation. Yesterday, international crude oil futures declined, leading to a bearish sentiment in the pure benzene market. Currently, the chemical sector's products are performing weakly, and the market confidence in pure benzene has weakened; the overall buying interest from local refineries in Shandong is low, with cautious transactions. Today, most local refineries in Shandong are maintaining stable prices for their offers, while the East China market remains weak but stable.

This week, Sinopec raised its prices by 200 CNY/ton to 5,500 CNY/ton in China.

Downstream aspects

III. Future Market Forecast

Crude Oil Futures: On February 5, international crude oil futures declined. The March contract for U.S. WTI crude oil futures closed at $63.29 per barrel, down $1.85, or 2.8%. The April contract for Brent crude oil futures closed at $67.55 per barrel, down $1.91, or 2.8%.

Foreign market pure benzene: On February 5, FOB Korea fell by $4 to $776 per ton, and CFR China fell by $5 to $776 per ton. FOB Rotterdam dropped by $6 to $888 per ton, while FOB USG remained stable at 289 cents per gallon.

Overall forecast: In the short term, the pure benzene market is expected to fluctuate and trading will remain cautious. Stay tuned for developments on cost factors and demand-side news. Continue to monitor the trends in crude oil prices and overseas markets, as well as the impact on pure benzene prices from dynamics in pure benzene production facilities and downstream industries, and changes in demand.