1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene has continued to decline this month. On July 1st, the price was 9318.67 yuan/ton; On July 30th, the price was 8389.67 yuan/ton, a decrease of 9.96% from the beginning of the month and an increase of 15.98% from the same period last year.
2、 Analysis and Review
Pure benzene: The inventory of pure benzene at ports in Jiangsu Province is 39800 tons, an increase of 19800 tons from the end of last month, indicating a rapid increase in inventory. The price of pure benzene for night trading has been negotiated to around 8350-8440 yuan/ton.
This month, the price of pure benzene from Sinopec has dropped to 8400 yuan/ton.
Downstream aspects
The styrene market fluctuated and fell. On July 1st, the price of styrene in Shandong was 9433.33 yuan/ton, and on July 30th, the price was 9460.00 yuan/ton, a decrease of 0.78% within the month. The current price has increased by 15.20% year-on-year. On January 1st, the 500000 tons/year styrene plant in Qingdao Bay was shut down for maintenance for one month. On the 10th, the 150000 tons/year styrene plant of North Huajin is scheduled to undergo a 14 day shutdown and maintenance. The supply of styrene has increased, and spot demand is mainly driven by rigid demand. The spot demand is poor, and the styrene market has slightly declined.
3、 Future forecast
Crude oil: International oil prices have fallen. NYMEX crude oil futures 09 contract 75.81 fell $1.35/barrel, or 1.75%; ICE Brent futures contract 09 fell $1.35/barrel or 1.66% to 79.78. The main contract for Chinese INE crude oil futures, 2409, fell 1.0 to 585.2 yuan/barrel, and fell 7.2 to 578 yuan/barrel in the evening session.
The fundamentals are showing a downward trend in the short term, with sufficient supply in the market. Pure benzene may continue to decline in the short term, and we will observe whether the cost and demand sides can improve. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.
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