From May 13 to May 20, 2022, the bidding price of crude benzene increased as a whole, from 6901 yuan / ton last weekend to 7157 yuan / ton this weekend, with a weekly increase of 3.71%.

On May 19, the international crude oil futures rebounded and rose significantly. The settlement price of the main contract of us WTI crude oil futures was US $109.89/barrel, up US $2.85 or 2.66%; The settlement price of the main contract of Brent crude oil futures was US $112.04/barrel, up US $2.93 or 2.70%. Oil prices rebounded after falling for two consecutive days, mainly due to the fall of the US dollar exchange rate, which raised the valuation of commodities denominated in US dollars. In addition, the epidemic situation in Asia improved and restrictions relaxed, boosting demand expectations.

Summary of price adjustment of Sinopec pure benzene (unit: yuan / ton)

Date, Adjusted price, Adjustment amount

May 5, 8850.,+150

May 7, 8950.,+100

May 13, 9100.,+150

May 17, 9200.,+100

May 19, 9300.,+100

Sinopec raised the ex factory price of pure benzene. On May 19, 2022, Sinopec raised the listing price of pure benzene by 100 yuan / ton and implemented 9300 yuan / ton.

Other enterprises: Dongming Petrochemical offers 8800 yuan / ton, HSBC Petrochemical offers 9350 yuan / ton, Weilian chemical offers 8953 yuan / ton, Xinhai Petrochemical offers 8950 yuan / ton, and Hongrun Petrochemical offers 8950 yuan / ton.

Crude oil prices rose as a whole this week, and the external price of pure benzene rose, which provided good support for the fundamentals of the industrial chain. This week, Sinopec continuously raised the production price of pure benzene, once again boosted market confidence, and local refining enterprises rose one after another. Over the weekend, market news said that an accident occurred in a factory in South Korea, resulting in the shutdown of about 380000 tons of pure benzene production capacity, and the market speculation was positive. This week, the inventory of pure benzene in East China decreased significantly, and the overall support of the market was strong. However, Shandong was dragged down by poor downstream demand. Although the price actively followed up this week, there was still a certain price difference with East China, and the actual transaction was weak. At present, the mainstream price of domestic pure benzene is 8750-9350 yuan / ton, and the price of hydrogenated benzene fluctuates with that of pure benzene. At present, the market price in East China has risen to about 9200-9300 yuan / ton.

The crude benzene market is the main player in the bidding price this week. In terms of supply, at present, the operation of coking enterprises is relatively normal. Although the profit of coke enterprises has declined after three rounds of coke lifting and lowering, the raw coking coal has declined, the coke enterprises as a whole are OK, the operation rate has changed little recently, and the supply of crude benzene is relatively stable. In terms of downstream demand, hydrobenzene enterprises have been boosted by profits recently, with an overall start-up of more than 70%, and the demand for crude benzene is well supported. In terms of the future market, at present, the fundamentals are good, the support is strong, and the downstream demand is OK, which boosts the overall trend of the industrial chain. It is expected that the market will maintain a stable, medium and strong trend in the near future. In the future, we will continue to pay attention to the impact of the international crude oil market, the external market, the dynamics of pure benzene and downstream devices, and changes in demand on the price of pure benzene.