From October 14, 2022 to October 21, 2022, the bidding price of crude benzol dropped, at 6685 yuan/ton last weekend and 6530 yuan/ton this weekend, a weekly drop of 2.32%.

In terms of crude oil: the short-term positive effect of the US release of reserves on the market has been realized. In addition, Biden also said that if the oil price drops to around $70, the US will buy back crude oil to make up for the strategic reserve SPR, which will undoubtedly be good for the market in the medium and long term, so the supply side will still be good for oil prices in the future. On the demand side, inflation in Europe and the United States remains high, and the probability of the Federal Reserve’s further aggressive interest rate increases, which will further increase the risk of economic recession, thereby depressing oil demand. Therefore, in the future, the supply and demand sides of the oil market will increase the game, and the oil price probability will remain volatile, which will make it difficult to go out of a clear direction in the short term. On October 20, the settlement price of international crude oil futures was basically the same as that of the previous trading day. The settlement price of December contract (month) of US WTI crude oil futures was 84.51 dollars/barrel, down 0.01 dollars; The settlement price of the main contract of Brent crude oil futures was 92.38 dollars/barrel, down 0.03 dollars. The game between supply and demand intensified, and oil prices fell into a stalemate.

The ex factory price of Sinopec’s pure benzene will be reduced by 200 yuan/ton on October 13, 2022, and the current price is 8000 yuan/ton.

Other enterprise quotations: Jingbo Petrochemical quoted 7980 yuan/ton, HSBC Petrochemical quoted 7950 yuan/ton, Weilian Chemical quoted 7903 yuan/ton, and Xinhai Petrochemical quoted 7950 yuan/ton.

The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. The weekly K-bar chart of pure benzene shows that the price of pure benzene has fallen continuously since July, and it has recovered slightly at the end of August and the beginning of September, and declined slightly in October.

From the perspective of the industrial chain, the market price of pure benzene this week was weak as a whole. At the beginning of the week, crude oil and styrene were down, and the external market of pure benzene was down. Under the influence of multiple negative fundamentals, the price of pure benzene continued to decline. Sinopec lowered the ex factory price to 7850 yuan/ton, and lowered it by 150 yuan/ton. In terms of supply, the port has a large number of goods arriving at the port recently, and the market supply is relatively loose, which has once again dragged down the pure benzene market. The downstream receiving intention is low, and the overall market trading is weak. The manufacturers are generally active in shipping, and some goods in East China flow into Shandong for arbitrage. There were many negative factors in the week, and the overall performance of pure benzene was poor. The price of hydrogenated benzene decreased slightly with the overall weak consolidation trend. After some units were shut down, the supply of hydrogenated benzene in the yard was slightly tightened, supporting the price consolidation of hydrogenated benzene. In the future market, the prices of basic crude oil and styrene will rise at the weekend, while the prices of pure benzene will keep rising, and the market atmosphere will improve. However, there is still just demand in the downstream. Under the environment of increased supply in the market, the market of pure benzene will be mixed with bad and good. It is expected that the future market will be dominated by small shocks. Focus on the downstream commencement in the fourth quarter and the impact of crude oil trend on the price of pure benzene.

The bidding price of crude benzol mostly fell this week, with the main production area dropping by 200-300 yuan/ton. The bidding price in Shandong Province this week is 6550-6610 yuan/ton. In terms of supply, the production limit of coking enterprises increased this week compared with the earlier period, and the supply of crude benzol contracted compared with the earlier period, which boosted the market to a certain extent. However, due to the recent decline of the industrial chain, some enterprises stopped production and the overall operating rate of the downstream hydrogenated benzene declined. The demand for crude benzene is limited. The overall decline of the pure benzene industry chain this week has dragged down the crude benzol market mentality. It is expected that under the double influence of bad news and good news in the crude benzol market, the recent trend will be more volatile, mainly maintaining a narrow range of shocks.