1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene has fallen this month, with a price of 8834.67 yuan/ton on July 12th; On July 12th, the price was 8544.67 yuan/ton, a decrease of 2.18% from the beginning of the month and an increase of 25.65% from the same period last year.

2、 Analysis and Review

Pure benzene: The overall trend of pure benzene continues to decline. At present, the inventory of pure benzene at ports in Jiangsu Province continues to rise, with a total inventory of 44000 tons, an increase of 14000 tons or 46.67% compared to the previous period’s inventory of 30000 tons. The downstream maintenance equipment for pure benzene has increased, and it is expected that inventory will rise in July and August. As of July 19th, the mainstream spot price of pure benzene in Shandong market is 8500 yuan/ton. At present, the downward trend of pure benzene market has slightly stopped, and it is expected that the price of pure benzene will mainly decline slightly in late July.

This month, the price of pure benzene from Sinopec has dropped to 8600 yuan/ton.

Downstream aspects

The market price of styrene has slightly decreased this week. International oil prices have fluctuated, with a significant decline in the pure benzene market and poor cost support, while the styrene market has risen to a relatively high level. Spot demand is mainly driven by rigid demand, and downstream resistance to high price levels is slightly evident, resulting in a slight decline in the styrene market. At present, the transaction price of styrene in Jiangsu region is 9510-9550 yuan/ton.

3、 Future forecast

Crude oil: NYMEX crude oil futures 08 contract fell $0.03/barrel or 0.04% at 82.82; ICE Brent Oil Futures 09 contract 85.11 rose 0.03 USD/barrel or 0.04%. The main contract for Chinese INE crude oil futures, 2409, rose 6.1 to 614.1 yuan/barrel, and fell 0.1 to 614 yuan/barrel in the evening session.

Crude oil prices are fluctuating in a high range, downstream equipment maintenance is frequent, procurement is weak, and port pure benzene inventories are rising. In the short term, pure benzene may continue to decline, and we are waiting to see if 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.