The hydrogenated benzene commodity index was 70.36 on March 28, which was the same as previous day. It was 31.03% lower than the highest point in the cycle of 102.01 points (2014-01-09), and 134.61% higher than the lowest point of 29.99 points on April 07, 2020. (Note: Period refers to 2013-12-01 to present)
This week (March 22 to 26) the market price of hydrogenated benzene in Shandong fluctuated mainly, starting at 6,125 RMB/ton at the beginning of the week and 6,050 RMB/ton on weekends, down by 75 RMB/ton.
In March 2021, the listing price of Sinopec's pure benzene was lowered three times, and the current implementation is 6,350 RMB/ton, of which Qilu Petrochemical has implemented 6,150 RMB/ton, and it has been lowered twice this week for a total of 300 RMB/ton.
This week, pure benzene continued to follow the trend of crude oil and styrene, and the price fell. ort stocks of pure benzene continued to decline. At present, the supplement is limited before the end of March, and it is still in the de-stocking channel. The listing price of Sinopec's pure benzene was lowered by 300 RMB/ton to 6,350 RMB/ton, and the listing price of some refineries in North China was lowered by 350 RMB/ton to 6,150 RMB/ton. The start of pure benzene and hydrogenated benzene dropped slightly this week, and the market supply was slightly lower.
In March 2021, the overall operating rate of hydrogenated benzene enterprises was around 60%, a decline from last week. At present, the price difference of crude benzene and hydrogenated benzene is relatively reasonable, the profits of hydrogenated benzene enterprises have improved, and the production and sales of enterprises are active. The cost of driving and parking for hydrogenated benzene companies is lower than that of pure benzene, most manufacturers schedule production based on profitability.
SunSirs believes that international crude oil has fluctuated recently on fundamentals, and there is limited guidance on the price of pure benzene. It is expected that the pure benzene market will continue to fluctuate mainly in the future. The market outlook will focus on downstream demand and the impact of future equipment maintenance on market supply and demand.
