According to the Commodity Market Analysis System of the Business Society, the auction price of crude benzene for the week from October 30 to November 6, 2023 was lowered, with 6703.75 yuan/ton last weekend and 6598.75 yuan/ton this weekend, a decrease of 1.57%.

In terms of crude oil: As of November 3rd, international crude oil futures fell. The settlement price of the main contract for WTI crude oil futures in the United States was $80.51 per barrel, a decrease of $1.95 or 2.4%. The settlement price of the main contract for Brent crude oil futures was 84.89 yuan/barrel, a decrease of 1.96 US dollars or 2.3%. The supply tension caused by the situation in the Middle East has eased.

The factory price of Sinopec pure benzene and the listed price of Sinopec pure benzene will continue to be 8050 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7800 yuan/ton, HSBC Petrochemical quoted 8050 yuan/ton, Weilian Chemical quoted 7673 yuan/ton, Xinhai Petrochemical quoted 7800 yuan/ton, and Hongrun Petrochemical quoted 8050 yuan/ton.

According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly increased this week. On October 30th, the price of pure benzene was 7900 yuan/ton, and on Friday (November 3rd), the price of pure benzene was 7920 yuan/ton, an increase of 0.25% compared to last week and 11.67% compared to the same period last year.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has seen a positive trend in recent times.

From the perspective of the industry chain, the trend of the pure benzene industry chain during the week was somewhat volatile, with a limited overall fluctuation range. The pure benzene in the external market went down during the week, but the decline was limited, and the price did not change much during the week. The pure benzene market fluctuates within a narrow range, and the changes in the hydrogenation benzene market are relatively limited. Currently, the market price in East China is between 7900 to 8000 yuan/ton, with a slight increase of about 50 yuan/ton compared to last week. Sinopec’s prices have temporarily stabilized during the week, and the market mentality is relatively stable.

The overall change in the pure benzene industry chain this week is limited, and the hydrogenation benzene market follows a narrow range of fluctuations. The overall fluctuation of the industry chain is relatively small, and the auction prices of crude benzene were mostly slightly lowered during the week, while downstream procurement remained on demand. This week, the Shanxi region implemented a price of 6500-6550 yuan/ton, with a decrease of 70-80 yuan/ton. In terms of supply, coking enterprises have had good sales recently, with a slight increase in business operations. The overall supply of crude benzene has not changed much. In terms of demand, the recent operating rate of hydrogenation benzene enterprises has not changed much, and there is still a demand for crude benzene. However, some units have plans to restart in the future, and the supply will slightly increase in the future. Overall, the expected increase in supply and demand for crude benzene in the future market is currently limited by the high volatility of crude oil trends. The market mainly focuses on changes in supply and demand, and it is expected that the trend of the industrial chain will be relatively stable in the short term, with a narrow volatility trend remaining the main focus.