According to the Commodity Market Analysis System of the Business Society, the auction price of crude benzene for the week from June 2 to June 9, 2023 has slightly decreased, from 5776.25 yuan/ton last weekend to 5728.75 yuan/ton this weekend, a weekly decrease of 0.82%.

In terms of crude oil, international crude oil futures closed lower on June 8th. The settlement price of the main contract for WTI crude oil futures in the United States was $71.29 per barrel, a decrease of $1.24 or 1.7%. The settlement price of the main contract for Brent crude oil futures was $75.96 per barrel, a decrease of $0.99 or 1.3%.

The factory price of Sinopec pure benzene decreased by 300 yuan/ton on May 26, 2023, and is currently at 6500 yuan/ton.

Other companies: Jingbo Petrochemical quoted 6600 yuan/ton, HSBC Petrochemical quoted 6500 yuan/ton, Weilian Chemical quoted 6383 yuan/ton, Xinhai Petrochemical quoted 6550 yuan/ton, and Hongrun Petrochemical quoted 6500 yuan/ton.

According to the Commodity Market Analysis System of Business Society, the price fluctuation of pure benzene this week is very small. On June 5th, the price of pure benzene was 6500 yuan/ton, and on June 9th, the price of pure benzene was 6505 yuan/ton, a decrease of 0.03% compared to last week and a decrease of 33.73% compared to 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 been declining for seven consecutive weeks, with both positive and negative trends in recent times.

In terms of industrial chain: The rise in crude oil prices over the weekend has driven up market sentiment, and the recovery at the beginning of this week has continued, with a positive market atmosphere at the beginning of the week. On Tuesday, crude oil fell 0.6%, while the styrene market weakened, dragging down market sentiment and causing a slight decline in pure benzene prices. As of Thursday and Friday, the crude oil trend rose first and then fell, and the overall market atmosphere was bearish. The recent supply of pure benzene is relatively sufficient, and the market outlook is relatively short. The hydrogenation benzene market has basically followed the fluctuations of pure benzene, falling by 50-100 yuan/ton within the week. The factory price in the main production area is around 6500 yuan/ton, which is a decrease of 100 yuan/ton compared to last week.

From the operating rate curve of independent coking enterprises in China from 2022 to the present, we can see that the operating rate of coking enterprises has been basically maintained at around 75% recently. After 10 consecutive rounds of landing in the coke market, the profits of coking enterprises have shrunk, the mentality of price competition and sales reluctance has increased, and the supply of crude benzene has been tight.

The crude benzene market has slightly decreased this week. The mainstream price in Shandong is 5780 yuan/ton, a decrease of 50 yuan/ton compared to last week. The price in Shanxi is 5600 yuan/ton, a decrease of 70-100 yuan/ton compared to last week. On the supply side, the supply of crude benzene is still tight this week, and coke companies currently have a strong attitude towards price support. In terms of demand, the hydrogenation benzene market continues to decline, with most companies losing money, and some equipment maintenance operating rates declining. The overall trend of the industrial chain is low, dragging down the mentality of the crude benzene market. Overall, the recent trend of crude oil has been volatile, with insufficient guidance for the market, overall weakening of the industrial chain, and tight supply of crude benzene. However, there is a lack of downstream demand support, and there may be some room for decline. In the future, the business agency predicts that the crude benzene market will be mainly stable, moderate, and weak in the near future.