1、 Price trend

According to the data of business club’s block list, the price of pure benzene continued to rise this week. On June 20, the price of pure benzene was 7603-7800 yuan / ton (average price 7750 yuan / ton), and on Sunday (June 27), the price of pure benzene was 8050-8150 yuan / ton (average price 8120 yuan / ton), with an average price increase of 370 yuan / ton or 4.77% compared with last week; Compared with the same period last year, it increased by 130.68%.

2、 Analysis and comment

Crude oil and the external market continued to rise, with good support from external news. At home, there are large aromatics plants in China with unplanned production reduction and supply reduction. In addition, the inventory of local refineries in Shandong Province is low, and the spot supply is tight on the spot. Therefore, the market is bullish. This week, Sinopec’s listed price of pure benzene increased by 400 yuan / ton to 8150 yuan / ton.

In terms of external market, the reference price of pure benzene in South Korea market on Friday (June 25) was US $1021 / T, up US $86 / T or 9.2% on June 18; The import reference price of East China was US $1040 / T, up 80 US dollars / T or 8.33% from June 18.

In terms of crude oil, the market is optimistic about the recovery of crude oil demand, US crude oil inventories continue to decline, and international oil prices continue to rise. Compared with June 18, Brent rose $2.71/barrel, or 3.69%; WTI rose $2.41 per barrel, or 3.36%.

Downstream: styrene: this week, styrene stopped falling and rebounded. On June 25, the price of sample enterprises was 9125 yuan / ton, up 3.69% from last week, and 67.43% from the same period last year. This week, the main styrene port in East China had an inventory of 65000 tons, up 11000 tons month on month. Domestic factories and Jiangsu Port inventory is still at a low level, short-term spot price of styrene is still able to support.

Aniline: the aniline plants of many enterprises have been running under reduced load or shut down for maintenance, and the continuous reduction of supply has led to the continuous rise of aniline price. On June 25, the price in Shandong was 10000-10500 yuan / ton; The price of aniline in Nanjing is 10000-13000 yuan / ton.

3、 Future forecast

In terms of crude oil, the prospect of crude oil recovery is good, and the oil price still has action power. However, OPEC + may further increase production in August, which will have a certain impact on future oil prices.

Downstream: styrene, the main downstream product: in the early stage, the short-term shutdown unit of styrene was restarted and Gulei Petrochemical was put into operation, the supply picked up, while the demand will continue to be weak in the off-season, and the price fluctuation of styrene is expected to be weak in the later stage.

Internationally, crude oil and external prices are high, with good support for pure benzene. In China, the large aromatics plant is shut down for maintenance, the enterprise inventory is low, and the on-site supply is still in a tight situation in the short term. Downstream: the downstream is in a state of loss, the follow-up of pure benzene is general, limiting the rise of pure benzene. Overall, it is expected that the price of pure benzene will remain high next week, and the price may fall later. Continue to pay attention to the downstream market (mainly styrene inventory, demand changes), domestic and foreign pure benzene plant trends, crude oil, external market trends on the price of pure benzene.