Price Trend

According to the business association’s list data, the price of pure benzene is between 5700 and 5750 yuan per ton, and the current price of pure benzene is between 5800 and 5900 yuan per ton, which is 2.26% higher than that of pure benzene last week.

II. Analytical Review

1. Products: Affected by the Saudi Arabian incident last Saturday, the price of pure benzene in the outer market rose sharply at the beginning of the week, which led to a bullish domestic market. In the latter half of the week, oil prices and external markets both fell, and the market attitude was cautious.

2. Crude oil: Saudi Arabia’s largest crude oil facility was attacked by unmanned aerial vehicles last Saturday, causing more than 5 million barrels per day of oil production to be suspended, which affected international oil prices by more than 10% on Monday. In response to the incident, Saudi Arabia said it would use its stockpiles to ensure that crude oil exports were not affected, restore oil supply to pre-attack levels at the end of September, and oil prices fell sharply. Brent rose 4.59% and WTI rose 4.23% from last week.

3. Related industries: Downstream styrene fell by 2.04% compared with last week; downstream aniline rose by 13.13% compared with last week, benefiting pure benzene.

4. External market: At the beginning of the week, due to the favorable influence of the Saudi Arabian incident, the external market rose sharply. On Thursday, the positive effect began to fade and the price of the external market weakened.

3. Future Market Forecast

1. Crude Oil: Despite Saudi Arabia’s efforts to restore crude oil supply, and the United States is ready to take appropriate measures to deal with it, the Middle East risk has a greater impact, and oil prices are still likely to rebound.

2. Domestic market: The risk of crude oil supply has subsided, and the downstream follow-up is insufficient to restrain the later growth.

Considering comprehensively, pure benzene is expected to stabilize and weaken the shock next week.