August 21 news
I. Price Trends
According to the commodity market analysis system, the price of pure benzene in the Shandong region of China increased this week. The price of pure benzene was 7,751 CNY per ton on Monday and 8,187.67 CNY per ton on Friday, with a weekly increase of 5.63%.
2. Market Analysis
Pure benzene: This week, the market price of pure benzene in Shandong region has increased. During the week, the prices of pure benzene from Sinopec's plants in East China, South China, and Central China were raised twice, with a cumulative increase of 5,500 yuan. The latest price of pure benzene is now 8,250 CNY per ton, effective from August 21. The current tension in the situation between the United States and Iran has led to an increase in international oil prices, which strongly supports the price of pure benzene, indicating a strong trend. Today, the offers from local refineries in Shandong are mainly stable with slight increases.
Downstream sector
III. Future Market Forecast
Crude Oil Futures: On August 20, international crude oil futures closed higher. The settlement price for the October contract of U.S. WTI crude oil futures was $86.83 per barrel, up $2.44, or 2.9%. The settlement price for the October contract of Brent crude oil futures was $93.78 per barrel, up $2.16, or 2.4%.
Foreign market pure benzene: On August 20, FOB Korea rose by $7 to $1,017 per ton, and CFR China rose by $9 to $1,031 per ton. FOB Rotterdam rose by $27 to $1,179 per ton, and FOB USG rose by $9 to 481 cents per gallon.
Overall forecast: In the short term, pure benzene will maintain a high-level fluctuation. Observing cost and demand news. Continue to pay attention to the impact of crude oil, foreign market trends, pure benzene and downstream facility dynamics, and changes in demand on the price of pure benzene.
