From April 19 to 23, 2021, the weekly benzol market price in Japan was lowered. The domestic ex-factory price was 4,345 RMB/ton at the beginning of the week and 4,775 RMB/ton at the weekend, a weekly increase of 9.9%.
In April 2021, Sinopec's pure benzene listing price was raised 5 times, and the current implementation is 7,300 RMB/ton, of which Qilu Petrochemical implemented 7,250 RMB/ton, and it was raised twice this week, with a total increase of 450 RMB/ton.
This week, with the increase in the external price of pure benzene, the domestic pure benzene station reached the 7,000 RMB/ton mark. Sinopec raised the ex-factory price of pure benzene for two consecutive times, and hydrogenated benzene rose significantly. Next week is approaching the May Day holiday, there is a certain demand for goods preparation in the downstream, and the unsaturated resin in the downstream of pure benzene is currently in the peak season of the industry, the styrene inventory is low, the spot circulation is tight, the market price is firm, multiple positive supports, and the price of hydrogenated benzene has increased significantly. Benzol market was supported by high price from downstream, and bidding price rose sharply this week.
In the market outlook, SunSirs believes that there are many positive factors for the fundamentals, but the current price has risen significantly, downstream enterprises are slightly resistant, and the port's pure benzene inventory is currently stable at about 110,000 tons, and the destocking speed is slowing down. In addition, hydrogenated benzene companies have a certain degree of resistance to high-priced benzol, and have a strong attitude of lowering prices, and the market outlook is expected to rise weakly.
