This Week’s Pure Benzene Market Price Declines (May 11–May 16)

May 15th, according to the news,

I. Price Trends

According to the commodity market analysis system, the price of pure benzene in the Shandong region of China fell this week. The price of pure benzene was 8,390 CNY per ton on Monday and 8,303.33 CNY per ton on Friday, a decrease of 1.03% within the week.

II. Market Analysis

Pure benzene: This week, the market price of pure benzene in Shandong region has decreased. Sinopec has reduced the price of pure benzene by 200 CNY/ton in its refineries in East China, South China, and Central China, with the latest quotation at 8,300 CNY/ton, effective from May 14th. Today, the price of pure benzene is stronger in the south and weaker in the north. International crude oil futures have almost closed flat, and the market confidence in pure benzene is average. Today, the sales situation of local refineries in Shandong did not meet expectations, and prices were still slightly reduced for offers. The pure benzene in East China is running stronger, but the price increase is limited.

Downstream sector

3. Future Market Forecast

Crude Oil Futures: On May 14, international crude oil futures closed nearly flat. The June contract for U.S. WTI crude oil futures settled at $101.17 per barrel, up $0.15, or 0.2%. The July contract for Brent crude oil futures settled at $105.72 per barrel, up $0.09, or 0.1%.

Foreign market benzene: On May 14, FOB Korea fell by $15 to $1,055 per ton; CFR China dropped by $15 to $1,049 per ton. FOB Rotterdam remained stable at $1,272 per ton, while FOB USG rose by 3 cents to 482 cents per gallon.

Overall forecast: In the short term, the pure benzene market is expected to fluctuate within a narrow range, with cautious trading. Stay tuned for developments on cost factors and demand-side news. Continue to monitor crude oil prices, overseas market trends, as well as the dynamics of pure benzene and downstream facilities and changes in demand, all of which will influence pure benzene prices.