Pure benzene: Crude oil is the biggest pusher

Last week by Russia and Ukraine situation heating up, crude oil rose, east China pure benzene market chasing high, hydrobenzene with rising petroleum benzene, but subject to the main downstream profit is poor, the market resistance to high prices, transaction is limited. Entering this week, the market buying at the beginning of the week is still weak, the north refinery continued to profit operation, but the shipment is still under pressure. However, crude oil still has support for the market, after the negotiation contact after the Russia-Ukraine war has no signs of easing, and Russia's energy exports have been materially affected, the market fear of losing Russia's energy supply, crude oil surged overnight after today's session to continue to chase higher.

In terms of inventory, as of March 1, jiangsu's pure benzene inventory was 170,700 tons, down 0.5% from February 22. From February 22 to March 1, the arrival quantity was 24,500 tons, and the digestion volume within the period was 25,400 tons.

As for the market trend, many empty factors coexist. On the one hand, Russia said it would continue to "action" in the Ukraine, until a goal, and considered that the international energy agency coordination consumer market scale of a drop in the ocean, and this may mean main consumers in response to the conflict between Russia and Ukraine bereft of shortage of crude oil, crude oil prices to continue growing by leaps and bounds, the WTI crude oil pan on $110 a barrel, The price has reached a new high since March 2013. The extreme upside risk of the crude oil market in the short term is still high. The upstream energy trend has a strong support effect on the market, and the east China market is still expected to follow the trend. On the other hand, the main downstream profit loss is also a fact, part of the device by the profit problem shutdown, the demand for raw materials contraction, drag on the pure benzene market confidence; Third, due to the limited arrival of goods at the main port in February, the warehouse was slightly removed, but the subsequent shipping schedule tends to increase, and the inventory at the main port may return to the stage of overstocking.

Overall, crude oil rose significantly, the domestic pure benzene market or strong consolidation, subject to the main downstream profit is poor, high price transmission is more difficult and inventory has increased risk, so it is expected to follow limited.