1、 Price trend

According to the bulk data list of business agency, the average ex factory price of 85% domestic thermal phosphoric acid was 10770 yuan / ton on July 1, and 8810 yuan / ton on July 28. The price of domestic thermal phosphoric acid fell 18.20% this month.

2、 Market analysis

In July, the phosphoric acid market fell sharply, with the content of 85 industrial grade phosphoric acid falling by 18.20% in the month, and the market focus continued to decline. Since the beginning of July, the continuous decline mode of phosphoric acid has been started, and the price has continued to fall until the end of the month. The price of raw material yellow phosphorus fell again this month, and the cost support was weak. Coupled with the limited follow-up of downstream demand and a large supply of phosphoric acid, phosphoric acid manufacturers and dealers have reduced prices. At present, there is a strong bearish mood on the floor, and the industry is cautious to wait and see. Wet process phosphoric acid has a poor transaction due to the high market and high price of raw phosphate rock. As of July 28, the ex factory price of 85 thermal phosphoric acid was about 8810 yuan / ton. The quotation of phosphoric acid in Sichuan is about 7900-9800 yuan / ton, that in Hubei is about 7900-9800 yuan / ton, that in Yunnan is about 8300 yuan / ton, and that in Jiangsu is about 9800 yuan / ton.

In terms of phosphate rock, since July, the domestic medium and high-end phosphate rock market has continued to operate at a high level. At the beginning of July, the market price of 30% grade phosphate rock and phosphate ore basically broke through the 1000 yuan level, the on-site supply remained tight, and the operators were reluctant to sell. Large mining enterprises were mainly for their own use, and there were basically few external sales. The on-site circulation spot was insufficient, and the market continued to operate strongly. On July 11, some mining enterprises in Guizhou and Guangxi raised the market price of medium and high-end grade phosphate ore again, by about 30-50 yuan / ton, The high-end market price of 30% grade phosphorus ore in Guizhou exceeded 1150 yuan / ton, and then the phosphorus ore market as a whole remained strong until late July. Up to now, the domestic market price of 30% grade phosphorus ore is around 1050-1150 yuan / ton, and the market price of 28% grade phosphorus ore is around 900-980 yuan / ton.

Raw material yellow phosphorus market, yellow phosphorus market price fell sharply this month. At present, the trading volume of yellow phosphorus market is light, the construction of downstream phosphorus trichloride enterprises is declining, most enterprises reduce the production load, the phosphoric acid market continues to consolidate at a low level, the price of yellow phosphorus is reduced, the confidence of yellow phosphorus market is suppressed, and the market price is constantly squeezed and lowered. Most yellow phosphorus manufacturers will not make external quotations for the time being, and will focus on single discussion. Up to now, the mainstream quotation of Sichuan yellow phosphorus market is about 29000 yuan / ton. The mainstream quotation of Guizhou yellow phosphorus market is about 27000 yuan / ton.

3、 Aftermarket forecast

According to the phosphoric acid analysts of business agency, the market price of phosphoric acid fell in July with the lack of cost support, and the price of raw material yellow phosphorus fell sharply. In the case of buying up rather than buying down, the downstream just needs replenishment, and the procurement is cautious. Under the leading factors of bad market, it is expected that the phosphoric acid market will continue to decline in the short term.

In July, the focus of the domestic propane market still shifted downward, and the propane price in Shandong market rose first and then fell. According to the monitoring data of business agency, the average price of propane in Shandong market was 6025.75 yuan / ton on July 1, and 5760.75 yuan / ton on July 27. The decline rate in July was 4.40%, an increase of 23.07% over the same period last year.

As of July 27, the mainstream prices of propane in different regions in China are as follows:

Region, July 27

South China. 5520-5620 yuan / ton

In North China, 5650-5900 yuan / ton

Shandong Province, 5700-5820 yuan / ton

Northeast China, 5800-6000 yuan / ton

In July, the domestic propane Market as a whole was still weak. The price of Shandong propane market was relatively strong in the first half of the month, and the price increased by a narrow range. In the second half of the month, the price fell significantly. In the first half of the month, the price of CP was introduced in July, and the decline of propylene butane was less than expected, which brought relative support to the domestic market. The international crude oil market price has increased, and the cost is good for the market mentality. Propane prices are relatively strong. In the second half of the month, the international crude oil fluctuated downward, bringing some bad news to the market. In addition, the demand is still weak, the downstream market entry enthusiasm is not high, and the market trading atmosphere is limited. Shandong has sufficient market supply, and the factory quotation has been continuously reduced to stimulate the downstream to enter the market and alleviate the inventory pressure.

Saudi Aramco announced in July 2022 that both propylene and butane fell. Propane was $725 / ton, down $25 / ton from the previous month; Butane was $725 / ton, down $25 / ton from the previous month.

At present, the market price of propane in Shandong is weak, and the quotation is mostly around 5800 yuan / ton. The market supply is relatively abundant, but the terminal demand is relatively limited, and the market trading is weak. In addition, the trend of the international crude oil market was mainly downward at the end of the month, while the propane market was good and the support was insufficient, and the price followed the downward trend. It is expected that the propane market may still have room for decline in August.

Zinc prices rose slightly this week

According to the data monitoring of the business agency, the zinc price rose slightly this week. As of July 26, the zinc price was 23154 yuan / ton, up 3.48% from 22376 yuan / ton on July 17 last weekend; Compared with the zinc price of 23246 yuan / ton on July 1, it fell by 0.40%. The zinc price rose slightly this week, the zinc market stopped falling and rebounded, and the conflict between the decline of zinc supply and the decline of zinc price eased. However, in July, the zinc price fell first and then rose. On the whole, the shock of zinc price in July stabilized, the conflict between the decline of zinc supply and the decline of zinc price still existed, and the zinc price entered the shock and pull stage.

The supply of zinc is still declining

Data released by the National Bureau of statistics on Thursday showed that China’s zinc production in June was 549000 tons, a year-on-year decrease of 4.2%. Zinc production from January to June totaled 3.263 million tons, down 1.7% year on year. According to the data released by the General Administration of Customs of China, the import volume of refined zinc in June 2022 was about 2391 tons. In June 2022, the import volume of refined zinc decreased by 26.36% month on month and 93.62% year-on-year. From January to June, the cumulative import of refined zinc was 49002 tons, with a cumulative year-on-year decrease of 81.78%. From the data of domestic zinc production and refined zinc import, it can be seen that the domestic zinc supply fell significantly in the first half of the year.

In the international market, under the supply contraction caused by the conflict between Russia and Ukraine, eurometalux, the European non ferrous metals industry association, warned that the zinc smelting capacity in Europe had fallen by nearly half in the past year, and now the price of electricity has further soared, which may lead to more factories shutting down in winter. Guy Thiran, director general of eurometaux, said that if the European Union’s concerns about natural gas shortages and soaring electricity prices in winter become a reality, more production facilities will face the risk of permanent closure. Under the dual pressure of the European energy crisis and the conflict between Russia and Ukraine, European zinc smelters have stopped production continuously, the resumption of production and resumption of work is far away, and the supply of zinc market has declined or existed for a long time.

Zinc market demand slowly warms up

In June, Shanghai announced the full resumption of work and production. The epidemic in Hebei, Beijing and other places intensified but the impact was controllable. At the same time, the government issued a series of economic recovery policies, including infrastructure, real estate, automobile and so on. However, the impact of the policy is less than expected, the performance of real end consumption is still weak, and the operating rate of enterprises is still low. Since July, more domestic stimulus policies have boosted the market, and the policy expectations for July have turned optimistic. The start-up of enterprises has warmed up, the processing fee of zinc concentrate has risen, and the enthusiasm of zinc smelting enterprises to start work has rebounded. However, the overall market demand has not changed much, and the stock has been removed to maintain the early level; The market terminal demand is unilateral, mainly long-term order circulation, and the stock removal is slow.

Aftermarket forecast

Business analysts believe that: the international market is affected by the energy crisis and the conflict between Russia and Ukraine, zinc smelting enterprises have been shut down continuously, and the supply of zinc has declined seriously; In the domestic market, affected by the epidemic, zinc production fell, and the overall supply of zinc fell. On the demand side, the macroeconomic performance is still weak, real estate, automobile and other industries are declining seriously, the demand of zinc city is low, domestic stimulus policies are slowly launched, and the consumption demand of zinc city is slowly warming up. In the future, the risk of long-term decline in zinc supply remains, and the demand side is expected to recover under the influence of stimulus policies, but whether the recovery in consumption can meet the expectations still needs time to test. The future zinc price trend still needs to pay attention to the demand side performance of the zinc market, focusing on the implementation of the policy and its impact on the demand of the zinc market. The future zinc price is supported by the rise, and there is a certain room for the rise of the short-term zinc price.

According to the price monitoring of business agency, the price trend of sulfur in East China continued to decline this week. On July 22, the quotation of sulfur was 1640.00 yuan / ton, which was 7.69% lower than the price of 1776.67 yuan / ton on July 16, and 54.49% lower than that at the beginning of the month.

This week, the sulfur market continued to operate in a weak position, the downstream market started at a low level, and the demand for sulfur was limited. In addition, there was a low-cost source of goods in the market, there was great competition pressure for on-site shipment, and the inventory pressure of sulfur refineries increased. In order to maintain the pace of shipment, domestic refineries continued to reduce their quotations. In the mood of buying up but not buying down, operators were cautious in entering the market, and the overall atmosphere of the market was weak. As of the 22nd, the price of sulfur fixation in refineries in Shandong is between 1500-1720 yuan / ton, and the mainstream price of liquid sulfur is 1650-1700 yuan / ton.

The downstream sulfuric acid market was weak, and the price fell sharply during the week. The quotation on July 22 was 778 yuan / ton, a decrease of 1.95% compared with the price of 892 yuan / ton at the end of last week. The devices of mainstream sulfuric acid manufacturers in Shandong operate normally, with sufficient market supply, low downstream demand, weak enthusiasm for entering the market, empty mentality of operators, downward shift in the focus of on-site trading and investment, and weak and downward sulfuric acid market.

The downstream phosphate fertilizer market is weak, the transaction focus of downstream compound fertilizer is lowered, and the purchase of raw material monoammonium is reduced. Domestic demand for diammonium is less in the off-season, mainly for export. The overall demand of ammonium phosphate Market is low, and the industry is cautious. The focus of traders’ transactions is downward. In the short term, the market of ammonium phosphate continues to be weak.

According to sulfur analysts of business club, the domestic sulfur price continues to decline, the downstream demand is insufficient, the support for sulfur is weak, the market is affected by low-cost sources, and the operators are cautious about entering the market. It is expected that the sulfur market will continue to be weak in the future, and the price will mainly decline. Specific attention will be paid to the market follow-up.

1、 Price trend

According to the bulk list data of business society, toluene fell violently this week. On July 15, the price was 7990 yuan / ton, and on Friday (July 22), the price was 7730 yuan / ton, down 3.25% from last week; Compared with the same period last year, it increased by 33.74%.

2、 Analysis and comment

As crude oil rose for three consecutive days, the cost side boosted the domestic market, and toluene prices rebounded slightly. However, due to sluggish domestic demand, the superimposed cost support is difficult to maintain, and the positive support is weakened. Toluene fell after rising with crude oil.

In terms of external trading, toluene in Asia fell violently this week. On Thursday (July 21), the price of toluene imported from South Korea was $946 / ton, down $23 / ton year-on-year, or 2.37%.

In terms of crude oil, the market expressed doubts about Saudi Arabia’s ability to increase production, and tight supply is expected to support the rise of oil prices for three consecutive days. However, there were signs of weakening gasoline demand in the United States, which combined with the European Central Bank’s interest rate hike to suppress the economy, and oil prices fell. As of July 22, Brent’s price rose by $2.04 per barrel or 2.02% this week compared with last week; WTI fell $2.89 / barrel, or 2.96%.

Downstream: in terms of TDI, the price of TDI in East China fell this week. The price was 17375 yuan / ton on July 15 and 16750 yuan / ton on July 22, down 3.6% from last week and up 10.44% from the same period last year.

In the PX market, the domestic PX price was stable this week. On Friday (July 22), the domestic ex factory price of paraxylene was 9550 yuan / ton, which was stable compared with last week and increased by 34.51% compared with the same period last year. As of July 21, the closing price in Asia was $1030 / ton FOB South Korea and $1048 / ton CFR China.

In terms of gasoline, the price of gasoline in Shandong fell violently this week. The price was 8787 yuan / ton on July 15 and 8606 yuan / ton on July 22, down 2.06% from last week and up 8.1% from the same period last year.

3、 Aftermarket forecast

In terms of crude oil, the oil market has been stuck recently, and the expectation of oil supply shortage is still there. However, global inflation, the accelerated pace of interest rate hikes by central banks, and the increased risk of future economic recession have suppressed energy demand. Crude oil long short game, the trend is full of uncertainty. Continue to pay attention to the impact of geopolitical situation, opec+ decision on crude oil production, US crude oil and refined oil storage dynamics, global economic conditions and other factors on crude oil prices.

The support of external news was weak, and there was no good news on the demand side. In addition, in the later stage, new toluene production capacity entered the market, the contradiction between supply and demand was prominent, and the downward pressure increased. Pay attention to the impact of crude oil, external market trend, toluene unit dynamics and downstream demand on prices.

According to the monitoring of business agency, the natural rubber commodity index was 35.54 on July 20, down 0.16 points from yesterday, down 64.46% from the highest point of 100.00 points in the cycle (2011-09-01), and up 30.28% from the lowest point of 27.28 points on April 2, 2020. (Note: the period refers to 2011-09-01 to now)

Figure 2: mainstream price trend of natural rubber in the first and middle of July 2022

According to the monitoring of business agency, the mainstream market of domestic natural rubber (standard 1) in East China market showed a continuous downward trend in the first and middle of July: the mainstream market in East China market reported about 12954 yuan / ton on the 1st, and the main market reported 11984 yuan / ton on the 20th, a decrease of 7.49%. Among them, the highest price point in the middle of the last month was 12954 yuan / ton at the beginning of the month, and the lowest price point was 11970 yuan / ton on the 15th, with the maximum amplitude of -7.6%.

Figure 3: trend chart of mainstream international crude oil prices in recent March 2022

From the macro perspective of industrial analysis, in the first and middle of July, the trend of international crude oil showed a W-shape, and the current price was similar to that at the beginning of this month. Among them, the price of international crude oil futures continued to rise on the 20th. The settlement price of the main contract of WTI crude oil futures in the United States was US $99.88 / barrel, down US $0.86 or 0.9%; The settlement price of the main contract of lunt crude oil futures was $106.92 / barrel, down $0.43 or 0.4%. Previously, affected by the macro dollar weakness, oil prices rose for three consecutive days, and the positive was gradually digested by the market. Oil prices fell slightly on Wednesday, mainly because data showed that gasoline fell during the peak driving season in the summer in the United States, and as the interest rate hike by central banks triggered market concerns about economic slowdown, demand uncertainty made oil prices deadlocked.

Figure 4: Weekly K histogram of natural rubber market in 2022

Supply side: the output of the global production area continues to increase rapidly, and the output of Thailand and Vietnam in the Southeast Asian production area continues to increase. With the rainfall in the southern part of Thailand, the total amount increases steadily, and the glue price weakens. The output of the Yunnan production area in China’s domestic area increases steadily. Due to the late opening of the Hainan production area, the current overall output is definitely reduced compared with previous years. From the perspective of the seasonal law of global output, it is expected to reach a comprehensive peak in August. Inventory: the current import volume is not large, and the domestic inventory is reduced by a small margin. Demand side: affected by the high temperature weather, the operating rate of tire enterprises has generally declined. Statistics show that the operating rate of tire factories is about 50% to 70%. Data show that as of July 15, the operating load of all steel tires of Shandong tire company was 58.94%, an increase of 1.64% over last week and a decrease of 0.91% over the same period; The operating load of semi steel tire was 65.23%, an increase of 1.57 percentage points over last week and 8.85% over the same period. According to the latest data released by the National Bureau of statistics, the output of rubber tire casings in China in June 2022 was 76.98 million, an increase of 1.2% year-on-year; In the first half of the year, the output of rubber tire casings decreased by 7.6% year-on-year to 417849 million. Although the automobile consumption policies are frequent and the downstream automobile production and sales are expected to be good, the existing inventory of finished tires is high, and enterprises are not very enthusiastic about the purchase of raw rubber. Inventory side: in terms of futures, the natural rubber inventory of the previous period increased slightly, and the inventory of No. 20 rubber decreased slightly; In terms of spot goods, it is reported that Qingdao free trade zone and general trade inventory have increased slightly, but the overall inventory is not high and the inventory pressure is not high. Import and export: China: in June 2022, China imported 536000 tons of natural and synthetic rubber (including latex), an increase of 16% over 462000 tons in the same period in 2021; From January to June 2022, China imported a total of 3.396 million tons of natural and synthetic rubber (including latex), an increase of 3.1% over 3.294 million tons in the same period in 2021.

Aftermarket forecast: the recent rainfall in the production area cannot prevent the supply pressure of the global natural rubber seasonal rubber production peak season. Superimposed on the latest natural rubber import data, the year-on-year increase and the continued high inventory of tire finished products, the current situation of weak demand from downstream manufacturers will continue. Although the strict control of public health events is conducive to economic development and the frequent occurrence of policies such as automobile consumption has a certain boost to the demand for rubber, the imbalance between the supply and demand of natural rubber spot has led to the continuous pressure on the future market of Tianjiao. It is expected that the natural rubber market will not improve in the third quarter, and there is a high possibility of sustained shocks at the 12000 level in the short term.

In mid July, CIS polybutadiene rubber market was weak and fell. According to the monitoring of business agency, as of July 20, the domestic CIS polybutadiene rubber price was 13790 yuan / ton, down 4.37% from 14420 yuan / ton on July 10. On the one hand, the demand for downstream construction is low, on the other hand, some enterprises restart after device maintenance, and the supply side is loose. The market is weak and declining.

In mid July, the ex factory price of CIS polybutadiene rubber of domestic enterprises decreased. According to the monitoring of business agency, as of July 20, the ex warehouse price of Qilu CIS polybutadiene of Sinopec North China sales company was 13300 yuan / ton; Butadiene prices fluctuated slightly, and the cost side was mainly stable in the short term; The restart of Shunding devices such as Wanda and the new device of Qixiang Tengda is planned to be put into operation in the near future, which increases the pressure on the supply side; However, the market turnover was relatively light, and the market offer of CIS polybutadiene rubber gradually fell.

Butadiene prices fluctuated slightly in mid July, and the cost side remained stable in the short term. According to the monitoring of business news agency, as of July 20, the price of butadiene was 10260 yuan / ton, up 0.74% from 10184 yuan / ton on July 10, and the peak during the period was 10492 yuan / ton.

The natural rubber market fell sharply, dragging down the butadiene rubber market. According to the monitoring of business news agency, as of July 20, the price of natural rubber was 11984 yuan / ton, down 5.79% from 12720 yuan / ton on July 10.

The downstream tire starts around 60%, the demand is insufficient in the face of cis-1,4-polybutadiene rubber support, and the market transaction at high prices is slightly deadlocked.

Aftermarket forecast: business analysts believe that the increasing pressure on the supply side and the relatively low demand in the off-season, it is expected that the price of cis-polybutadiene rubber will continue to decline weakly in the short term.

According to the monitoring data of business agency, as of July 19, the average ex factory price of n-butanol in Shandong Province was 7766 yuan / ton. Compared with July 17 (the reference price of n-butanol was 7600 yuan / ton), the price increased by 166 yuan / ton, or 2.19%. Compared with July 17 (the reference price of n-butanol was 7600 yuan / ton), the price increased by 166 yuan / ton, or 2.19%. Compared with July 1 (the reference price of n-butanol was 8000 yuan / ton), the price decreased by 334 yuan / ton, The decrease was 2.92%.

It can be seen from the data monitoring chart of the business agency that from the beginning of July to the middle and early ten days of July (7.1-7.17), under the influence of insufficient demand, the domestic n-butanol market in Shandong continued to decline. Until the middle and late ten days of July, on July 17, the ex factory price of n-butanol in Shandong was 7600 yuan / ton, which fell to the lowest point in July at present. Downstream users searched for bargains and replenished goods, and the on-site trading atmosphere warmed up, The overall transaction volume of n-butanol market has increased. On the 18th and 19th, the domestic market price of n-butanol ushered in a steady rise. The factory price of n-butanol in Shandong Province was generally increased by 100-200 yuan / ton. As of July 19, the factory price of n-butanol in Shandong Province was around 7700-7800 yuan / ton, with an increase of more than 2% in two days. At present, the market focus of n-butanol is relatively strong, and the on-site supply and demand transmission has improved.

In terms of upstream propylene, since July (7.1-7.18), the domestic propylene market in Shandong has been running downward as a whole. According to the monitoring data of business agency, the reference price of propylene was 7354.60 yuan / ton on July 18, a decrease of 4.24% compared with July 1 (7680.60 yuan / ton).

Aftermarket analysis of n-butanol

At present, the trading atmosphere in the n-butanol market is acceptable, and the downstream demand has warmed up compared with the previous period. The n-butanol datagrapher of business society believes that in the short term, the domestic n-butanol market in Shandong is more stable, medium and strong, and the specific trend needs to pay more attention to the changes in supply and demand.

1、 Price trend

According to the bulk list data of business society, the average market price of 55% powdered monoammonium was 4666 yuan / ton on July 11, and the average market price of 55% powdered monoammonium was 4650 yuan / ton on July 18. The price of monoammonium phosphate fell by 0.36 this week.

According to the bulk list data of business society, the average market price of 64% diammonium phosphate was 4700 yuan / ton on July 11 and 4700 yuan / ton on July 18. The price of diammonium phosphate was stable this week.

2、 Market analysis

This week, the ammonium phosphate Market is poor, and the trend is weak. Raw phosphate rock is still tight and the price is high. The price of raw sulfur has fallen sharply, and the cost support is weak. The downstream compound fertilizer operates at low load, the price is down, and the purchase of raw materials is reduced. Domestic demand for diammonium basically stagnated, and most manufacturers stopped quoting. At present, export is dominant, and the demand is weak. This week, the ex factory quotation of 55% powdered ammonium in Henan is about 4700 yuan / ton, and there is no quotation for 55% powdered ammonium in Anhui. The market quotation of 55% powdered ammonium in Sichuan is about 4600 yuan / ton, and the market quotation of 58% powdered ammonium is about 4750 yuan / ton. The actual transaction is negotiated. This week, the market quotation of 64% diammonium in Yunnan is about 4700 yuan / ton, the market quotation of 57% diammonium in Guizhou is about 4250 yuan / ton, and the market quotation of 60% diammonium is about 4650 yuan / ton. The actual transaction negotiation.

The price of raw sulfur fell sharply this week. The downstream market is weak, and the enthusiasm to enter the market is general. The on-site trading is light, the refinery shipment is poor, and the operator’s mentality is mainly stalemate and wait-and-see. The market trading atmosphere is poor, and the inventory pressure of enterprises is large. The short-term sulfur market is weak in the mood of buying up or not buying down.

This week, the domestic market for raw phosphorus ore is running at a high level. On Monday, some mining enterprises in Guizhou raised the market price of medium and high-end phosphorus ore by 50 yuan / ton, supported by tight supply in the phosphate rock yard and a shortage of circulating spot. Domestic large-scale mining enterprises mainly use phosphate rock for their own use, and the external sales are basically suspended. In addition, the retro mining enterprises in Guizhou Province in the early stage are currently shut down again, and the overall supply in the site has not been alleviated for the time being. The market price of 30% grade phosphorus ore in Guizhou is around 1100-1150 yuan / ton, and the market price of 28% grade phosphorus ore is 980-1030 yuan / ton. At present, the downstream demand for phosphate rock is stable, and the trading atmosphere in the site is normal.

3、 Aftermarket forecast

According to the ammonium phosphate analysts of the business society, the current price of ammonium phosphate raw materials is volatile, and the finishing operation is running. The ammonium phosphate Market is depressed, the demand side is weak to follow up, and the transaction is poor. It is expected that the ammonium phosphate market will be weak in the short term.

1、 Price trend

According to the bulk list data of business news agency, pure benzene weakened with crude oil this week. On July 8, the price of pure benzene was 9200-9550 yuan / ton (average price 9267 yuan / ton), and on Friday (July 15), the price of pure benzene was 8600-9150 yuan / ton (average price 9009 yuan / ton). The average price was 2.79% lower than last week and 5.61% higher than the same period last year.

2、 Analysis and comment

Affected by the broad decline of crude oil, pure benzene in the external market followed the weakness, driving the focus of negotiation in the domestic market down. During the week, the turnover in Shandong was general, and the price difference with other regions widened. Due to the reduction of domestic trade ships, the inventory of East China ports this week decreased by 8000 tons compared with last week, and the market supply was relatively tight, with a limited overall decline during the week.

This week, Sinopec reduced the price of pure benzene by 150 yuan / ton to 9150 yuan / ton (the price of pure benzene in Hebei and Shandong was reduced to 8950 yuan / ton).

In terms of external trading, Asian pure benzene continued its broad decline this week. On Thursday (July 14), the reference price of pure benzene in the Korean market was $1039 / ton, a year-on-year decrease of $86 / ton, or 7.64%; The reference import price in East China was $1095 / ton, with a year-on-year decrease of $67 / ton, or 5.77%.

In terms of crude oil, the global economic growth slowed down, the Federal Reserve’s expectation of raising interest rates rose, and bad news dominated the impact. Crude oil fell again broadly, and oil distribution and US oil fell below US $100 a barrel during the week. As of July 15, Brent’s price fell by $5.86 per barrel, or 5.48%, this week compared with last week; WTI fell $7.2 / barrel, or 6.87%.

Downstream: styrene: styrene fell violently in Shandong this week. On July 8, the price was 10550 yuan / ton, and on July 15, the price was 10351 yuan / ton, which was 1.88% higher than that of county roads last week and 11.16% higher than that of the same period last year.

Aniline: aniline was sorted down in a narrow range this week. On July 15, the price in Shandong was 11800-12100 yuan / ton; The price of aniline in Nanjing is 12100-12500 yuan / ton, down 0.21% from last week and up 26.05% from the same period last year.

3、 Aftermarket forecast

In terms of crude oil, the long short game of crude oil is full of uncertainty. Continue to pay attention to the impact of geopolitical situation, opec+ decision on crude oil production, US crude oil and refined oil storage dynamics, global economic conditions and other factors on crude oil prices.

Downstream: styrene, the main downstream product, will be gradually started. Styrene plants such as Haiwan, Wanhua, Dushanzi and Hengli are expected to increase the circulating supply of styrene.

Due to tight supply, the price of pure benzene is still supported in the short term. If crude oil and the external market continue to fall, pure benzene may still fall. Continue to pay attention to the impact of crude oil and external market price trends, pure benzene port inventory, pure benzene and downstream device dynamics on prices.