According to the Commodity Market Analysis System of the Business Society, the auction price of crude benzene for the week from November 3 to November 10, 2023 was lowered. Last weekend, it was 6598.75 yuan/ton, and this weekend it was 6338.75 yuan/ton, a decrease of 3.91%.

In terms of crude oil: As of November 3rd, international crude oil futures fell. The settlement price of the main contract for WTI crude oil futures in the United States was $80.51 per barrel, a decrease of $1.95 or 2.4%. The settlement price of the main contract for Brent crude oil futures was 84.89 yuan/barrel, a decrease of 1.96 US dollars or 2.3%. The supply tension caused by the situation in the Middle East has eased.

The factory price of Sinopec pure benzene continued to be 7750 yuan/ton, a decrease of 300 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7600 yuan/ton, HSBC Petrochemical quoted 7750 yuan/ton, Weilian Chemical quoted 7603 yuan/ton, Xinhai Petrochemical quoted 7600 yuan/ton, and Hongrun Petrochemical quoted 7750 yuan/ton.

According to the Commodity Market Analysis System of Business Society, the price of pure benzene has slightly decreased this week. On November 6th, the price of pure benzene was 7903 yuan/ton, and on Friday (November 10th), the price of pure benzene was 7800 yuan/ton, a decrease of 1.51% from last week and an increase of 12.23% from the same period last year.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that the pure benzene market has seen a positive trend in recent times.

From the perspective of the industrial chain, the crude oil and styrene market both weakened during the week, driving the overall weakness of the pure benzene industry chain. The pure benzene market continued to decline during the week, and the hydrogenated benzene market also fell significantly. The auction price of crude benzene also declined overall during the week, and the downstream pressure on prices was generally strong, resulting in a weak overall trend in the industrial chain.

This week, the pure benzene market continued to decline, with Sinopec lowering its listing price twice to 77500 yuan/ton, and a cumulative decrease of 3000 yuan/ton during the week. The hydrogenation benzene market has followed a significant decline, with a current execution rate of 7600-7700 yuan/ton in East China, and a decrease of 300-400 yuan/ton within the week. In terms of supply and demand, coking enterprises started slightly higher this week, and crude benzene supply slightly increased compared to the previous period. In terms of demand, hydrogenation benzene enterprises that have undergone early maintenance have started operating one after another, and the overall demand for crude benzene is still acceptable. Overall, the pure benzene market is still under pressure due to high inventory and loose supply, and the weak trend of crude oil has limited impact on the industry chain. It is expected that the overall industry chain will still be under pressure in the future, and there may be further downward space. In the future, the focus will be on inventory situation and crude oil trend.