I. price trend

 

Pure benzene started to pick up on Wednesday after a slight decline on Tuesday this week, according to a large list of business agencies. The listing price of pure benzene enterprises was 5250-5351 yuan / ton last Friday, and 5250-5450 yuan / ton this Friday.

 

II. Analysis and comment

 

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1. Products: the port inventory of pure benzene this week is lower than that of last week, and the domestic spot supply of pure benzene is tight. This week, the domestic pure benzene market negotiation atmosphere was good, driving prices up slightly.

 

2. Crude oil: this week, the international oil price rose rapidly after a small drop, 0.5% higher than WTI on November 29, and 4.97% higher than Brent. This week’s positive factors for oil prices: U.S. crude oil inventories fell for the first time in six weeks, and OPEC agreed at the meeting to deepen production cuts.

 

3. External market: the price of pure benzene in the external market continues to rise this week, and the price difference between the internal and external market widens, which is good for the domestic market.

 

4. Related industries: styrene rose 1.37% this week due to the shortage of spot supply, slight drop in port inventory and favorable cost aspect; the demand in the downstream was soft, and aniline inventory was accumulated. In order to stimulate the downstream to take goods, aniline price was lowered twice this week, down 5.53%.

 

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III. future forecast

 

1. Crude oil: the final result of OPEC meeting: expand and reduce production by 500000 barrels / day. The expansion of the production reduction agreement will benefit the oil price.

 

2. Domestic market: the spot supply is tight, the high external price supports the price of pure benzene, and the pure benzene enterprises are expected to increase.

 

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Overall, it is expected that pure benzene will recover slightly next week.