Pure Benzene: Downstream Start-Up Improvements Steady Growth in Demand for Pure Benzene

Pure Benzene: Downstream Start-Up Improvements Steady Growth in Demand for Pure Benzene

This month, the domestic pure benzene market fluctuated. At the beginning of the month, the price of pure benzene rose, the profits of downstream products were restored, some units were restarted and the demand for pure benzene increased, which drove the enthusiasm of traders to enter the market and provided positive support for the rise in the price of pure benzene, but the price of crude oil fell during the cycle, limiting the overall increase; In the middle of the month, the price soared. Before the Mid-Autumn Festival holiday, the downstream and downstream actively stocked up. Due to the influence of the typhoon, some cargoes were delayed in arriving at the port. The spot inventory in the field remained low. The market price of pure benzene fell from a high level; the price of pure benzene rose first and then fell in the second half of the month. As the "November" holiday is approaching, domestic downstream enterprises are actively stocking up, the trading atmosphere in the market is good, and the market price focus has shifted upward. Near the end of the month, crude oil and benzene The price of ethylene fell, the support for pure benzene weakened, and the downstream pre-holiday stocking was coming to an end, the market transaction weakened, and the price began to fall.

From the perspective of the market outlook, in terms of external news, the U.S. EIA commercial crude oil inventory unexpectedly decreased, international crude oil rose late in the session, and the short-term oil price bottom was temporarily supported; in terms of supply, Shenghong Refinery is expected to produce products in October, and the number of ships arriving will increase. East China ports continue to accumulate warehouses, hydrogenated benzene may continue to rise after the start of construction, and on-site supply will increase; in terms of demand, downstream profits have been restored, and the demand for pure benzene is expected to increase in October. The main downstream medium and long-term styrene supply will improve, and follow-up units will be restarted and new production capacity will be put into operation. The benefits of tighter spot goods will gradually weaken. After the end of the stocking period before the National Day, market participants have weak expectations for demand after October.

On the whole, crude oil is running strongly in the short term, and there is still support for pure benzene. Although there is an expected increase in supply within the month, the enthusiasm of downstream industries to start construction has increased, and the demand for pure benzene has shown steady growth. Maintain high and volatile operation, continue to pay attention to the trend of crude oil and downstream sentiment.