1、 Price trend
According to the data of the business club’s large scale list, the weak trend of this week’s pure benzene is lower. The listing price of pure benzene on Friday is 5500-5950 yuan / ton, down 1.02% from 5700-5950 yuan / ton on Friday. The highest price of this week is from Monday to Wednesday, and the price is 5700-5950 yuan / ton.
2、 Analysis and comment
| PVA 1788 (PVA BP17) |
1. Product: the port inventory of pure benzene this week is higher than that of last week. There is pressure on the delivery of Shandong local refining Co., Ltd. and the price has been lowered successively. With the increase of market arrivals, the expectation of merchants began to weaken and the market mentality was short. However, it is heard that Zhejiang Petrochemical has produced pure benzene, but it has not been sold to the outside world. It is reserved for trial run of styrene, which to some extent supports the price of pure benzene.
2. Crude oil: this week, the price of oil rose and fell, rising slowly, but falling sharply. Although oil prices ended in a light decline on the last day of 2019, the annual increase was still the largest in three years. Compared with December 27, WTI fell 0.81%, Brent fell 2.46%.
3. Downstream industry: the downstream profit level continues to be explored, the demand is weak, and the overall mentality is pessimistic.
Styrene continued to decline this week, down 1.61%. This week, the styrene market was light in terms of trading, mainly in terms of internal supply and contract issuance.
This week coincided with new year’s day, before and after the festival, aniline factory price cut to stimulate shipment, week down 2.53%.
3、 Future forecast
| PVA FIBER |
1. Crude oil: next week, affected by the situation in the Middle East, the oil price is likely to pick up next week, but the upward pressure is large.
2. Market: the port inventory rose for two consecutive weeks, and the downstream profit level continued to be worrying, so the market mentality was weak. Near the end of the year, it is necessary to pay attention to the transportation problems in the later period and the impact of low price of hydrogenated benzene on pure benzene.
In a comprehensive consideration, Sinopec has the possibility of lowering the listing price, and it is expected that pure benzene will continue to weaken slightly next week.
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