On May 29, the crude benzene commodity index was 110.64, unchanged from yesterday, down 16.08% from the highest point of 131.84 in the cycle (January 28, 2013), and up 262.28% from the lowest point of 30.54 on April 8, 2020. (Note: the period refers to the period from September 1, 2011 to now).
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In May, 2022, the crude benzene market fluctuated upward. The domestic ex factory price of crude benzene was 6673 yuan / ton at the beginning of the month and 7065 yuan / ton at the end of the month, with a monthly increase of 5.87%.
Summary of Sinopec pure benzene price adjustment (unit: yuan / ton)
Date, Adjusted price, Adjustment amount
May 5, 8850.,+100
May 7, 8950.,+100
May 13, 9100.,+150
May 17, 9200.,+100
May 19, 9300.,+100
Sinopec raised the ex factory price of pure benzene. On May 19, 2022, the listing price of Sinopec pure benzene was raised by 100 yuan / ton, and 9300 yuan / ton was implemented. In May, 2022, Sinopec’s pure benzene was increased 5 times, with a cumulative increase of 450 yuan / ton.
Other enterprises: HSBC Petrochemical offers 9350 yuan / ton, Weilian chemical offers 9003 yuan / ton, Xinhai Petrochemical offers 9000 yuan / ton, and Hongrun Petrochemical offers 9050 yuan / ton.
In terms of crude oil, the overall oil price rose by a wide margin this month, with a monthly increase of more than 9.7%. On May 27, the price of international crude oil futures rose again. The settlement price of the main contract of WTI crude oil futures in the United States was US $115.07/barrel, up US $0.86 or 0.9%; The settlement price of the main contract of Brent crude oil futures was US $115.56/barrel, up US $1.39 or 1.22%. With the arrival of the peak driving season in the US in summer, the demand expectation has boosted the oil price. In addition, the EU has launched negotiations on whether to completely ban the import of Russian oil.
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The crude benzene market rose as a whole this month, with a slight correction at the end of the month, with an overall increase of 5.87%. At the beginning of the month, affected by the small and long holiday, the regional price difference in the domestic market was obvious, and the prices in the main production areas of Shanxi, Hebei, Shandong and other places increased significantly. The bidding price in the first week after the festival in Shandong was 7260-7265 yuan / ton, an increase of 330 yuan / ton compared with that before the festival. Because some enterprises auctioned the supply of goods after the festival before the festival, the pre Festival price was still implemented in the first week after the festival. In the second week, some enterprises that did not adjust their prices after the festival rose one after another. On the demand side, the downstream benzene hydrogenation enterprises started well this month with the support of high prices, and the demand for crude benzene was well supported. At the end of the month, although the prices of crude oil, pure benzene, styrene and other industrial chain commodities were still strong, the downstream of pure benzene was pressured by the cost pressure, so it had strong resistance to high priced pure benzene, and the market ushered in a small correction. Affected by this, the last bidding market at the end of the month was slightly corrected as a whole, in which Shandong implemented 7260-72665 yuan / ton and slightly reduced by 30 yuan / ton.
In terms of start-up: the overall start-up of coking enterprises in the early stage of this month was relatively high. With the implementation of four rounds of coke lifting and lowering, some enterprises with damaged profits have taken the initiative to limit production, with the proportion of limit production being 10%-30%, and the supply of crude benzene may be affected to some extent.
In the future, the business news agency believes that pure benzene and crude oil are still at a high level, crude oil prices continue to rise, and the price of pure benzene in Asia has a certain correction, but the overall price is still at a high level. The regional price difference of domestic pure benzene is obvious. East China has been actively de stocking. Supported by the high external price, the current market price of pure benzene in East China remains high. The fundamental support is obvious, but after the crude benzene price has gone all the way, the downstream resistance is strong, the downstream profits are tightened, and the purchasing enthusiasm is slowed down. It is expected that in the future, the crude benzene market will remain high and volatile in the short term, with some room for decline. In the future, we will focus on the impact of fundamental news such as pure benzene and crude oil on the market mentality and downstream demand.
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