Price trend
On September 10, the commodity index of hydrogenated benzene was 87.31, which was the same as previous day. It was 14.41% lower than the highest point in the cycle of 102.01 points (2014-01-09), and 191.13% higher than the lowest point of 29.99 points on April 07, 2020. . (Note: Period refers to 2013-12-01 to present)
This week (September 3 to September 10), the market price of hydrogenated benzene in Shandong increased. The price of hydrogenated benzene at last weekend was 7,650 RMB/ton, and the price of hydrogenated benzene at this weekend was 8,025 RMB/ton, an increase of 375 RMB/ton.
Analysis review
On September 10, 2021, the listed price of Sinopec's pure benzene was raised by 150 RMB/ton, and the current implementation was 8,000 RMB/ton, of which Qilu Petrochemical's pure benzene was implemented at 7,950 RMB/ton. During the week, the listed price of Sinopec's pure benzene rose for three consecutive times, with a cumulative increase of 350 RMB/ton.
Under the support of positive fundamentals this week, the price of pure benzene had been rising. During the week, the listed price of Sinopec's pure benzene rose three times in a row, rising by 350 RMB/ton. This week, the trend of downstream styrene was strong, the demand for pure benzene was well supported, the inventory in East China continued to decline, and the market mentality was good. Hydrogenated benzene closely followed the trend of pure benzene, and prices were mainly up this week.
Market outlook
In terms of market outlook, SunSirs believes that the current fundamentals of pure benzene are good for support, and downstream demand has rebounded to a certain extent, but the fundamentals of crude oil and other support are limited. It is expected that the market outlook for the hydrogenated benzene market will be dominated by shocks, with a slight upward pressure.
