According to the Commodity Market Analysis System of Business Society, the auction price of crude benzene for the week from November 10 to November 17, 2023 increased by 0.99% to 6401.25 yuan/ton this weekend, compared to 6338.75 yuan/ton last weekend.

In terms of crude oil, international crude oil futures plummeted on November 16th. The settlement price of the main contract for US WTI crude oil futures was $72.90 per barrel, a decrease of $3.76 or 4.9%. The settlement price of the main contract for Brent crude oil futures was 77.42 yuan/barrel, a decrease of 3.76 US dollars or 4.6%. The US crude oil inventory has significantly increased, and more importantly, weak economic data has exacerbated concerns about future demand. Business Society crude oil analysts believe that the current logic of crude oil trading is still a supply-demand game, and the pressure of tight supply has eased as the geopolitical situation in the Middle East has not shown a worsening trend of expansion. At present, market attention is more focused on various economic data indicators, which will become a barometer of demand prospects. Recently, multiple data releases have shown that economic data from important regions in the West and Asia are biased towards weakness, which will further exacerbate bearish demand sentiment in the future. In the short term, there is significant downward pressure on oil prices, but the market still needs to pay attention to OPEC policy trends, which will limit the downward space of oil prices.

The ex factory price of Sinopec pure benzene and the listed price of Sinopec pure benzene will continue to be 7750 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7700 yuan/ton, HSBC Petrochemical quoted 7750 yuan/ton, Weilian Chemical quoted 7653 yuan/ton, Xinhai Petrochemical quoted 7700 yuan/ton, and Hongrun Petrochemical quoted 7750 yuan/ton.

According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly increased this week. On November 13th, the price of pure benzene was 7675 yuan/ton, and on Friday (November 17th), the price of pure benzene was 7750 yuan/ton, a decrease of 0.64% compared to last week and an increase of 11.25% compared to the same period last year.

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 the pure benzene market has seen a positive trend in recent times.

In terms of the industrial chain, the crude oil market rose first and then fell this week. The overall strength of the styrene market was boosted by the positive news, and the pure benzene market rose slightly next week. Downstream inquiries were relatively positive, and market trading was good. The hydrogenation benzene market has been on the rise this week, with overall market prices slightly increasing by 150-200 yuan/ton.

This week, the pure benzene market slightly increased, with Sinopec’s listed price continuing to reach 7750 yuan/ton. The hydrogenation benzene market has slightly increased, with a current price of 7800 to 7850 yuan/ton in East China, and an increase of 150 to 200 yuan/ton within the week. In terms of supply and demand, coking enterprises started slightly higher this week, but the overall operating rate fluctuated around 75%, and the supply of crude benzene has been relatively stable in the near future. In terms of demand, as the hydrogenation benzene enterprises undergoing preliminary maintenance continue to operate, the overall demand for crude benzene from downstream hydrogenation benzene enterprises is still good and the demand performance is good. Overall, the current overall strength of the industrial chain has boosted the prices of most commodities. However, with the recent increase in supply of pure benzene and hydrogenated benzene, the market is slightly under pressure. Over the weekend, crude oil weakened again, which has a certain impact on market sentiment. In the future, market bearishness is expected to emerge, and the pure benzene industrial chain is expected to be under pressure in the future, with the market operating steadily and weakly.