1、 Price trend

 

Melamine

According to the bulk list data of the Business News Agency, the price of pure benzene fluctuated slightly this week. On February 27, the price of pure benzene was 7000-7470 yuan/ton (the average price was 7235 yuan/ton). On Thursday (March 2), the price of pure benzene was 7100-7420 yuan/ton (the average price was 7260 yuan/ton), up 0.69% from last week and 1.46% from the same period last year.

 

2、 Analysis and comment

 

The fundamentals of pure benzene continue to be weak, and the downstream is more wait-and-see, and the purchase intention is general; Crude oil continued to fall in the week, and the cost of pure benzene market formed a negative pressure; Downstream styrene slightly strengthened, boosting the pure benzene market.

 

The price of Sinopec pure benzene rose to 7100 yuan/ton this week (the price in Shandong and Hebei increased by 100 yuan/ton).

 

In terms of crude oil, this week’s crude oil market was shrouded in a negative atmosphere. The market was worried that the Federal Reserve might raise interest rates aggressively, which would add to the sharp increase in the United States refined oil storage. Concerns about the future economic and demand prospects remained.

 

Downstream

 

3、 Aftermarket forecast

 

Benzalkonium chloride

In terms of crude oil, the market is still worried about the global economic recession and the weakening of energy demand, and the short-term market will remain volatile. We will continue to pay attention to the impact of OPEC+’s latest production policy, US crude oil and refined oil storage dynamics, and global economic conditions on crude oil prices.

 

Although worried about the possible impact of interest rate hikes in Europe on economic growth, the demand for Indian refineries has reached a record high, and China’s economic data is improving, and international oil prices continue to rise. NYMEX crude oil futures 04 contract was 78.16 USD/barrel, up 0.47 USD/barrel or 0.60%; ICE oil distribution futures 05 contract was 84.75 USD/barrel, up 0.44 USD/barrel or 0.52%. The main contract of China INE crude oil futures 2304 fell 1.4 yuan to 554.4 yuan/barrel, and rose 12.1 yuan to 566.5 yuan/barrel in the evening.

 

The cost is weak, and the fundamentals of the pure benzene market are poor. It is expected that the pure benzene will continue to operate in a weak way in the short term. We will continue to pay attention to the impact of crude oil and external market price trends, pure benzene port inventory dynamics and pure benzene and downstream device dynamics on prices.

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