1、 Price trend

According to the bulk list data of business society, pure benzene fell by a wide margin this week. On November 28, the price of pure benzene was 6400-6750 yuan / ton (average price 6650 yuan / ton), and on Sunday (December 5), the price of pure benzene was 6100-6450 yuan / ton (average price 6310 yuan / ton). The average price decreased by 340 yuan / ton, or 5.11%, compared with last week; Compared with the same period last year, it increased by 44.2%.

2、 Analysis and review

Affected by the newly discovered new crown variant strain, crude oil prices continued to fall, lack of confidence in the external market, and prices fell. The price of crude oil and styrene fell, and the price of pure benzene continued to fall this week. Due to inventory pressure in Shandong, prices have been lowered continuously, and the price difference between East China and Shandong has widened. During the week, low-cost goods from Shandong flowed into East China, which suppressed the market atmosphere in East China, and the market as a whole was weak. This week, Sinopec cut the price of pure benzene by 250 yuan / ton to 6450 yuan / ton (the second adjustment in North China, a total of 550 yuan / ton).

In terms of external trading, Asian pure benzene fell in the external trading this week. On Friday (December 3), the reference price of pure benzene in the Korean market was US $876 / ton, which was flat month on month (MOM) on November 26; The reference import price in East China was US $885 / T, down US $15 / T or 1.67% month on month on November 26.

Crude oil fell sharply this week. Last week, a new variant of COVID-19, which was discovered in South Africa and other countries, triggered a sell-off of financial assets, exacerbating concerns about oil demand and oil prices. The OPEC + meeting within the week decided to maintain the original production increase plan and boost oil prices. Brent fell $2.84 / barrel, or 3.91% this week; WTI fell $1.89/barrel, or 2.77%.

Downstream: styrene: styrene rebounded after falling this week. The price of sample enterprises was 8300 yuan / ton on November 26 and 7975 yuan / ton on December 3, down 3.92% from last week and 3.33% from the same period last year. Spot bargain hunting and replenishment remained, the source of tradable goods decreased, some goods were sold at low prices, and the styrene market rebounded

Aniline: aniline stabilized after falling this week. On December 3, the price in Shandong was 9200-9380 yuan / ton; The price of aniline in Nanjing was 9300-10300 yuan / ton, down 16.82% from last week, up 16.88% from the beginning of the year and up 20.7% from the same period last year.

3、 Future forecast

In terms of crude oil, the market continues to pay attention to the impact of the mutant strain Omicron on crude oil and economy. OPEC + maintains the original planned increase in production or continues to boost oil prices. It is expected that the oil price will fluctuate in the short term and there is room for rebound. Continue to pay attention to the impact of the global epidemic, OPEC + decisions on crude oil production, the inventory dynamics of U.S. crude oil and refined oil, and global economic conditions on crude oil prices.

Downstream: styrene, the main downstream product, may rebound after a continuous decline in the short term, but the overall demand is still weak.

There are still ships arriving at subsequent ports, and the inventory continues to increase; Bargain hunting in the downstream and the market atmosphere picked up; Crude oil and styrene fluctuated steadily. Overall, it is expected that the consolidation of pure benzene will be dominated next week. Pay attention to the downstream market, plant dynamics, domestic pure benzene plant dynamics, and the impact of crude oil, external market and other trends on the price of pure benzene