According to the Commodity Market Analysis System of Business Society, from April 14 to April 21, 2022, the ex factory price of hydrogenated benzene in North China increased by 0.68% from 7350 yuan/ton last weekend to 7400 yuan/ton this weekend.

In terms of crude oil: Recently, the crude oil market has slightly declined. As of the 20th, the settlement price of the main contract for WTI crude oil futures in the United States was $77.37/barrel, while the settlement price of the main contract for Brent crude oil futures was $81.10/barrel. In early April, due to the news of production cuts from oil producing countries, the supply side of crude oil tightened, US crude oil inventories decreased, and strong demand from China for crude oil provided some support for international oil prices, leading to a significant increase in international oil prices. Recently, the market is worried about the performance of the Federal Reserve’s interest rate increase. The strengthening of the US dollar suppresses oil prices. In addition, the increase of the US crude oil inventory depresses the market, and the price trend of the crude oil market falls back.

The factory price of Sinopec pure benzene has increased by 300 yuan/ton on April 4, 2023, and is currently at 7500 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7620 yuan/ton, HSBC Petrochemical quoted 7500 yuan/ton, Weilian Chemical quoted 7403 yuan/ton, Xinhai Petrochemical quoted 7400 yuan/ton, and Hongrun Petrochemical quoted 7500 yuan/ton.

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 after entering July, the price of pure benzene has continued to decline, with a slight rebound in late August and early September. The price mainly decreased from October to December, rebounded in January, fluctuated narrowly after February, and overall rose in March.

In terms of industrial chain: This week, crude oil prices fluctuated at a high level and then went down, while the pure benzene market first rose and then fell. At the beginning of the week, both crude oil and styrene were trading at high levels, with a strong market mentality, while pure benzene prices were trading at high levels. During the weekend, crude oil took the lead in falling, styrene fluctuated downward, and the pure benzene market was dragged down by a narrow decline in prices.

The hydrogenation benzene market fluctuated with the trend of pure benzene this week, with the overall trend rising first and then falling. As of the 21st, the mainstream market price in East China was 7450~7500 yuan/ton. The factory price in the main production area is 7400 yuan/ton, a slight increase of 50 yuan/ton compared to last week. In terms of supply, the recent performance of the hydrogenation benzene market has been good, with enterprises actively operating and operating rates slightly increasing. In terms of demand, the downstream performance has been average recently, with a strong mentality of purchasing at low prices, and most of them maintain just in demand procurement. In terms of future market prospects, crude oil and styrene fell over the weekend, while the pure benzene market slightly weakened. Currently, the inventory of pure benzene in East China is slightly high, indicating a bearish market outlook. However, companies approaching small and long holidays have a pre holiday stocking intention, and prices are expected to remain stable, moderate, and weak overall, supported by stocking demand.