I. price trend:

In October 2019, the crude benzene market fell in shock. The factory price in North China was 4496.67 yuan / ton at the beginning of the month and 4145 yuan / ton at the end of the month, with a monthly decline of 7.82%.

The crude benzene commodity index at October 31 was 64.91, unchanged from yesterday, down 50.77% from 131.84 (2013-01-28), the highest point in the cycle, and up 65.38% from 39.25, the lowest point on December 22, 2014. (Note: cycle refers to 2011-09-01 to now).

II. Market analysis:

Domestic market: after the festival, the crude benzene market fell sharply, the price of pure benzene on the market and the international oil price continued to fall, Sinopec’s price of pure benzene was reduced by 150 yuan / ton to 5600 yuan / ton, the market was bearish, the bidding price in the main production area fell sharply, the downstream pure benzene was not smooth, the profit space of the hydrogenation benzene enterprises was narrowed, the pressure on crude benzene rose, the price of crude benzene went into the market, and the market lacked effective support The price of crude benzene fell sharply due to the heavy profit and empty factor. After entering the consolidation channel, prices fluctuated slightly. By the end of the month, the main offer of crude benzene market was 3950-4215 yuan / ton.

Industry chain: crude oil: crude oil fell at the end of this month in a wide range of shocks, WTI oil price fell 1.52% compared with last month, Brent oil price fell 2.1% compared with last month. Bad: trade risks, geopolitical situation, market concerns about slowing demand for crude oil. Good news: OPEC continues to insist on reducing production and making good progress in trade negotiations. Pure benzene: at the beginning of this month, due to the national day, the production limit of environmental protection inspection was large, and the transportation during the National Day was limited, so pure benzene enterprises began to reduce the price for shipment. After the festival, the hydrogenated benzene plant was resumed and the supply increased; the coking industry continued to break through the new low, which had a great impact on the pure benzene.

3. Trend forecast:

In the later period, the international oil price will still be in shock consolidation. Pay attention to OPEC production reduction, negotiation progress and various risk issues in the later stage. Pure benzene external market performance is poor, the market is lack of positive boost, it is expected that crude benzene chain material is mainly weak shock.