I. Price Trend
According to the commodity market analysis system of Business Society, the market price of pure benzene in Shandong region increased this week. On Monday, the price of pure benzene was 5,303.33 yuan/ton, and by Friday, it had risen to 5,476.67 yuan/ton, representing a weekly increase of 3.27%.
II. Market Analysis
Pure Benzene: This week, the market price of pure benzene in Shandong region showed an upward trend. Yesterday, international crude oil futures experienced a significant decline, leading to a bearish market sentiment. Overall buying interest in Shandong's local refineries was weak, with cautious transactions. The price of pure benzene in East China remained stagnant with slight adjustments and a minor decline. Today, most local refineries in Shandong maintained stable prices in their offers. This week, Sinopec raised its price by 200 yuan/ton to 5,500 yuan/ton. Downstream performance:
III. Future Outlook
Crude Oil Futures: On January 15, international crude oil futures experienced a sharp decline. The settlement price for the March contract of U.S. WTI crude oil futures was $59.08 per barrel, down by $2.80 or 4.5%. The settlement price for the March contract of Brent crude oil futures was $63.76 per barrel, down by $2.76 or 4.1%.
External Pure Benzene Market: On January 15, FOB Korea fell by $8 to $699/ton, CFR China dropped by $6 to $701/ton, FOB Rotterdam decreased by $10 to $797/ton, and FOB USG declined by 1 cent to 285 cents/gallon.
Comprehensive Forecast: In the short term, the pure benzene market is expected to experience weak and volatile movements, with cautious trading. Market participants are advised to monitor developments in cost and demand factors. Continued attention should be paid to the trends in crude oil and external markets, as well as the operational dynamics of pure benzene and downstream facilities, along with changes in demand, which will influence the price of pure benzene.
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