1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the price of pure benzene in the Shandong region has fluctuated and fallen this month. The market price drops in the first half of the year, rises in the middle, and falls in the second half. On May 1st, the price was 5708.67 yuan/ton; On May 30th, the price was 5752 yuan/ton, a decrease of 0.67% from the beginning of the month.
2、 Market analysis
Pure benzene: Today, the price performance of the pure benzene market was weak. Last night, crude oil prices fell, and the mentality of pure benzene market operators weakened. In addition, the styrene futures market fell, and the atmosphere in the market was poor, which affected the confidence of the pure benzene market. Shandong Refining will continue to prioritize discounted shipments today. East China ports continue to accumulate inventory, with prices fluctuating and falling. Overall, businesses are cautious and adhere to buying at low prices, filling gaps at low prices, and paying more attention to buying opportunities at low prices.
This month, Sinopec has raised the price of pure benzene by 200 yuan/ton to 5950 yuan/ton.
Downstream aspects
3、 Future forecast
Crude oil futures: On May 29th, international crude oil futures closed down. The settlement price of the main contract for WTI crude oil futures in the United States was $60.94 per barrel, a decrease of $0.90 or 1.5%. The settlement price of Brent crude oil futures for August was $63.35 per barrel, a decrease of $0.75 or 1.2%.
On May 29th, FOB Korea rose by 14 to 714 US dollars per ton, CFR China rose by 13 to 730 US dollars per ton, FOB Rotterdam stabilized at 695 US dollars per ton, and FOB USG fell by 11 to 255 US cents per gallon.
Overall expectation: In the short term, the market price of pure benzene will continue to fluctuate at a low level, and we will wait and see the news on the cost and demand sides. Continue to monitor the trends of crude oil and external markets, as well as the impact of changes in pure benzene and downstream equipment dynamics and demand on the price of pure benzene.