The price of pure benzene hits a record high, with a half-year increase of 101%

On July 2, Sinopec’s multi-site sales company’s listing price of pure benzene was raised by 300 yuan (ton price, the same below), and the mainstream listing price was 8,750 yuan, a weekly increase of 3.
6%, a month-on-month increase of 15%, and a continuous increase of 101% in the first half of the year.
, A new high in recent years
.

"The continuous rise in the market started at the beginning of the year was mainly due to multiple fundamental favorable factors such as steady growth in demand, continued decline in port inventories, and continuous external expansion
.

At the same time, the general rise in the domestic chemical market also boosted market transaction sentiment

Steady growth in demand

Steady growth indemandSteady growth in demand

According to statistics from Henan Chemical Network, as of the end of June, according to the calculation of the device operating rate of the month, the domestic petroleum benzene output was 1.
15 million tons and the hydrogenated benzene output was 370,000 tons, for a total of 1.
52 million tons
.

According to the calculation of the comprehensive operating rate of the main downstream products of pure benzene, such as styrene, cyclohexanone, adipic acid, phenol, aniline, maleic anhydride, caprolactam, nitrochlorobenzene, etc.

He Xiaodong said that the company's inventory should be maintained at 10% to 20% of the total supply capacity.
If the product is at a high level, the inventory will be appropriately reduced to about 10%
.

It can be seen from the statistical data that, except for the part where the inventory has not formed a source of circulation, the supply of pure benzene available to the society is about 1.

　　In addition, the styrene industry, which accounts for nearly 50% of pure benzene consumption, maintains its operating rate at around 90% most of the time, which also provides strong support for the pure benzene market
.

　　Port inventory reduction

　Decrease in　port inventory 　 decrease in port inventory

　　Pure benzene stocks in major domestic ports have continued to decline since the beginning of the year
.

As of July 2, the comprehensive inventory of pure benzene in Jiangyin, Zhangjiagang, Nantong, Changzhou and other major port reservoirs in Jiangsu has dropped to 57,000 tons, a 78% decrease from the beginning of the year

　　Senior market commentator Shao Huiwen believes that from the perspective of current port inventory, excluding some companies' own inventory, the current port inventory is at a historically low level
.

However, in the short term, the replenishment of imported goods cannot keep up, and low inventories form a strong support for the domestic pure benzene market

　　In addition, Zhejiang Petrochemical's pure benzene plant has delayed the start-up time for some reasons, and there is a large-scale benzene plant maintenance plan in North China from July to August.
The market supply will not increase significantly in the short term, and the pure benzene market may still rise further
.

　　The outer disk continues to push up

　The outer disk continuously pushes up 　 the　outer disk continuously pushes up

　　Since the beginning of this year, the continuous increase in the price of pure benzene on the external disk has also driven the domestic market to strengthen
.

　　As of the close of the market on July 1, the Asian FOB Korean pure benzene price rose to US$1,056, the European FOB Rotterdam price rose to US$1027.
25, and the FOB US main port price rose to US$1061.
45, up 70%, 32%, and 51% respectively from the beginning of the year
.

　　Wei Jianyang, general manager of Nanjing Kaiyan Chemical Co.
, Ltd.
, said that the continuous rise of international pure benzene prices has supported the formation of the domestic market in two aspects
.

One is the price.

　　In addition, the rise in the US dollar market and the major release of the US dollar this year cannot be ignored.
The impact of the two on the international bulk commodity market is expected to continue
.

　　According to industry analysts, the current domestic macroeconomic outlook is steadily improving, international crude oil continues to rise, and the supply of pure benzene is slightly tight, there is still a positive support for the short-term pure benzene market
.

However, affected by the current weakening of downstream order-taking capacity of pure benzene, high transaction prices are also facing resistance

　　Under the combined effect, the market outlook for pure benzene is likely to be high and narrowly consolidated
.

Since the current CFR price of imported goods at Hong Kong is less than RMB 8,200, once the imported goods are replenished or the domestic production capacity is increased, the tight supply situation in the domestic market can be alleviated