1、 Price trend

According to the Commodity Market Analysis System of Shengyishe, the price of pure benzene has slightly declined this month, with a sharp decline in prices in the middle and late stages. On November 1st, the price was 7913 yuan/ton; On November 30th, the price was 7200 yuan/ton, a decrease of 9.01% from the beginning of the month and an increase of 10.05% from the same period last year.

2、 Analysis and Review

Pure benzene: Yesterday, pure benzene in East China continued to decline, with active sellers selling. Downstream customers had a poor buying atmosphere, and market negotiations continued to decline due to news of unplanned parking in some downstream markets. The Shandong refinery reported a significant drop in prices, but the magnitude of the drop was lower than market expectations, resulting in weak transactions. The rebound of crude oil is expected to provide support for sentiment, and East China pure benzene is expected to consolidate at a low level in the morning.

This month, the price of Sinopec pure benzene decreased by 850 yuan/ton to 7200 yuan/ton.

3、 Future Market Forecast

Crude oil: Although US commercial crude oil inventories have increased for the sixth consecutive week, the market continues to focus on OPEC+meetings and supply side performance, leading to an increase in international oil prices. NYMEX crude oil futures contract 01 rose $1.45 per barrel, or 1.90%, at 77.86; ICE oil futures contract 01 rose $1.42 per barrel, or 1.74%, at 83.10. The main contract of China INE crude oil futures, 2401, rose 4.7 to 577.4 yuan/barrel, and rose 8.3 to 585.7 yuan/barrel in overnight trading.

External market: FOB South Korea increased by 8 to 847 yuan/ton, CFR China increased by 7.5 US dollars to 871 US dollars/ton, FOB Southeast Asia increased by 8 to 822.5 US dollars/ton, FOB Rotterdam and CIF ARA increased by 20 to 871 US dollars/ton, FOB US Gulf stabilized by 326 US cents/gallon.

The fundamentals are showing a downward trend in the short term, with sufficient supply on the market. Pure benzene may continue to decline in the short term, and we are waiting to see if the cost and demand sides can improve. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in demand and downstream equipment dynamics on the price of pure benzene.