The commodity index of hydrogenated benzene on June 29 was 37.53, unchanged with yesterday, down 63.21% from 102.01 (2014-01-09), and 25.14% higher than 29.99, the lowest point on April 07, 2020. (Note: the period refers to December 1, 2013 to now).
In June 2020, the hydrobenzene market entered the downward channel after the fluctuation trend. The ex factory price in North China was 3566.67 yuan / ton at the beginning of the month and 333.33 yuan / ton at the end of the month, with a monthly drop of 6.54%. The hydrobenzene market went up steadily in the first half of this month, and then entered the downward channel in the second half of this month.
Summary of Sinopec pure benzene price adjustment in June 2020 (unit: yuan / ton)
Price adjustment amount after date adjustment
June 5 3600 + 100
June 10 3700 + 100
June 15 3600 – 100
19 June 3550 – 50
June 23 3500 – 50
June 24 3450 – 50
June 28 3250 – 200
In June 2020, Sinopec increased the ex factory price of pure benzene twice and lowered it five times, with a cumulative decrease of 250 yuan / ton. By the end of the month, Sinopec North China pure benzene implemented 3250 yuan / ton, down 250 yuan / ton compared with the previous month.
Price changes of major domestic markets in June 2020 (unit: yuan / ton)
Monthly price rise and fall on the 15th and 30th
East China 3500-3600 3700 ～ 3800 3000-3150-475
Shandong area 3400-3500 3650-3700 3000-3050-425
In the first half of the month, Sinopec raised the price of pure benzene by 200 yuan / ton twice, and the external market of pure benzene rose significantly. On November 11, the upstream crude benzene raised the new round of bidding price by 200 yuan / ton, and the implementation in Shandong area was about 3100 yuan / ton, which brought external benefits to the hydrobenzene market. The price of hydrogenated benzene market was pushed up to the highest point of about 3675 yuan / ton in the month Full, into the high consolidation stage. Although crude oil rebounded in the middle of the month, its support for the downstream market was limited. The external market of pure benzene continued to decline, which had a great impact on the domestic pure benzene market. Sinopec North China took the lead in reducing the ex factory price of pure benzene by 50 yuan / T from May 15, and the pure benzene entered the downward channel. The negative factors surrounding the hydrobenzene were frequent, and the hydrobenzene market was basically under pressure.
Summary of main downstream start-up of hydrobenzene in June 2020 (unit: yuan / ton)
The 24 day operating rate of the product changes compared with that at the beginning of the month
Styrene 84% – 8%
Cyclohexanone 66% – 13%
Adipic acid 60% – 4%
Phenol 64% – 14%
Aniline 35% – 23%
Maleic anhydride 74% + 4%
Caprolactam 81% + 7%
The operating rate of downstream styrene, phenol and other enterprises has declined this month, of which aniline operating rate has declined greatly, reaching about 40%. On the whole, the downstream operating rate has declined on the whole, and the demand for hydrogenated benzene is weak. On the whole, the contradiction between supply and demand of hydrogenated benzene has become prominent, and the negative factors in demand side affect the market.
In the aftermarket, the business club believes that the hydrobenzene market is still under pressure, and the crude oil price fluctuates, resulting in a certain degree of market wait-and-see sentiment. If the new units of the downstream enterprises of hydrogenated benzene start on schedule in the second half of the year, the demand for hydrobenzene will be improved, and the pressure on inventory will be relieved, which will provide some support to the market. However, there are many negative factors in the short term, and the market is in a weak consolidation trend Under the cost pressure, it is expected that the hydrobenzene market will have a great downward pressure, and the future market still needs to focus on the changes of crude benzene and pure benzene inventory.