Price trend
From May 17 to 21, 2021, the ex-factory price of hydrogenated benzene in North China declined. The domestic ex-factory price was 8,200 RMB/ton at the beginning of the week and 8,075 RMB/ton at the weekend, a weekly drop of 1.52%.
This week (May 17-21) the market price of hydrogenated benzene in Shandong was lowered, starting at 8,200 RMB/ton at the beginning of the week, and at 7,900 RMB/ton on weekends, down 300 RMB/ton.
Analysis review
This week, crude oil and pure benzene went down. The domestic pure benzene market was mainly affected by fundamentals, and the hydrogenated benzene market was mainly dragged down by prices.
The downstream styrene market declined this week, and the support for raw materials was limited. The market negotiated prices in East China continued to decline. Affected by the negative fundamentals, the ex-factory prices of hydrogenated benzene companies were lowered, and manufacturers had a strong attitude towards shipment.
Market outlook
In the market outlook, SunSirs believes that the fundamental negative factors are frequently appearing. Last week, the state required the deployment to ensure the supply of bulk commodities and stabilize prices. Affected by macro policies, the commodity market was downturned in the last cycle. Sinopec planed to lower the ex-factory price of pure benzene. The price of hydrogenated benzene is expected to have downside in the future.
