1、 Price trend

 

PVA

According to the bulk list data of Business News Agency, the price of pure benzene decreased slightly this week. On March 13, the price of pure benzene was 7203-7350 yuan/ton (average price: 7276 yuan/ton), while on Thursday (March 16), the price of pure benzene was 7053-7300 yuan/ton (average price: 7176 yuan/ton), down 1.69% from last week and 12.48% from the same period last year.

 

2、 Analytical Review

 

Yesterday, prices in East China fell sharply, and news from the macro market exacerbated the pessimistic expectations of the industry for the future, with cargo holders actively shipping. Downstream buying is insufficient, and the offer is withdrawn. The buying sentiment in the Shandong market is cautious and the transaction is poor.

 

This week, the price of Sinopec pure benzene rose to 7300 yuan/ton (prices in Shandong and Hebei increased by 100 yuan/ton).

 

Crude oil has stopped falling and stabilized, and there is still support for the market’s long-term supply and demand. It is expected that prices will stabilize and consolidate in the morning, and attention will be paid to the downward range of main refineries.

 

Downstream

 

PVA 1788 (PVA BP17)

3、 Aftermarket Forecast

 

Pure benzene market: Yesterday, the price of pure benzene in East China fluctuated and fell, with insufficient support for the market price of styrene. The offer for pure benzene moved downward, with limited transaction volume. Shandong Refinery is not willing to hold goods, actively adjusting prices to promote shipment, and overall market prices have moved downward. In February, due to centralized maintenance in the downstream, the market supply was relatively abundant, and prices were expected to be weak and volatile.

 

Saudi Arabia and Russia discussed stabilizing the market, adding to the weakening of the US dollar and a rebound in international oil prices. NYMEX crude oil futures 04 contract rose by $0.74/barrel or 1.09% to $68.35/barrel; ICE oil futures 05 contract rose $74.70/barrel, or 1.37%, by $1.01/barrel. The main contract for China INE crude oil futures 2305 fell 27.5 yuan to 502.8 yuan per barrel, while it rose 1.6 yuan to 504.4 yuan per barrel in overnight trading.

 

Core logic: Yesterday, prices in East China fell sharply, and the news in the macro market exacerbated the pessimistic expectations of the industry for the future. Holders actively shipped. Downstream buying is insufficient, and the offer is withdrawn. The buying sentiment in the Shandong market is cautious and the transaction is poor.

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