1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene first rose and then fell this month, with a slight overall decrease in price. The price of pure benzene has been rising since the beginning of the month, with slight fluctuations in mid month and a continuous decline in late month. On February 1st, the price was 7553 yuan/ton; On February 27th, the price was 7509.67 yuan/ton, a decrease of 0.57% from the beginning of the month.

2、 Market analysis

Pure benzene: The domestic pure benzene market continues to decline. There is still pressure on local refining and shipping in Shandong region, and the focus continues to decline, releasing inventory pressure. In the East China region, import arbitrage has had a certain impact on the East China market, leading to a decline in market prices. Overall, business operators are more cautious and tend to adopt a wait-and-see attitude.

This month, the price of pure benzene from Sinopec dropped by 100 yuan/ton to 7550 yuan/ton.

Downstream aspects

3、 Future forecast

Crude oil futures: On February 26th, international crude oil futures closed down. The settlement price of the main contract for WTI crude oil futures in the United States was $68.62 per barrel, a decrease of $0.31 or 0.5%. The settlement price of the main Brent crude oil futures contract was $72.07 per barrel, a decrease of $0.43 or 0.6%. The unexpected increase in finished oil inventories in the United States indicates that the expectation of weak demand remains unchanged; The addition of the Ukraine Russia peace agreement has put pressure on oil prices.

On February 26th, FOB Korea fell 24 to 874 US dollars per ton, CFR China fell 23 to 893 US dollars per ton, FOB Rotterdam fell 11 to 853 US dollars per ton, and FOB USG fell 4 to 298 US cents per gallon.

Overall forecast: The pure benzene market is expected to remain weak and volatile in the short term, with a wait-and-see attitude towards cost and demand news. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.