The hottest multiple factors pressured the price o

Multiple factors have suppressed the volatile decline in the price of pure benzene

at present, the crude oil market continues to decline, with a large range and a wide range. Before the electronic change meter was developed in cooperation with Beijing Iron and Steel Research Institute, the closing price of crude oil was $68.75/barrel; Naphtha remained in a volatile downward trend. It took time and effort for the pure benzene market to follow, with a large decline. There were few shipments and few transactions in the market. Most businesses had a strong wait-and-see situation, unstable mentality, and more cautious positions. Judging from the current situation, the main factors affecting the pure benzene market are as follows:

first, the euro zone debt crisis can be said to be the continuation of the economic crisis in 2008, and the debt crisis has triggered concerns about the European economic recovery. On the one hand, the debt crisis may be transmitted to the financial sector, causing a new round of financial crisis and a heavy blow to economic confidence; On the other hand, euro zone countries have taken measures to tighten their finances in response to the debt crisis, which may drag the European economy into recession again when the economic recovery momentum is still fragile. At present, this factor affects the trend of crude oil market around the world. The crude oil price continues to fall, which in turn depresses the chemical product market, and the pure benzene market naturally bears the brunt

second, the impact of inventory. At present, Asian supplies are abundant, inventory has been running at a high level, and inventory pressure is relatively large. The domestic market is oversupplied, and the inventory of Maoming Petrochemical is 4400 tons. At present, the working stress between tons is as high as 900 (1) 000mpa. This year, Asian pure benzene plants are basically operating at full capacity, especially the aromatics plants of Japanese manufacturers are basically operating at full capacity, resulting in excess domestic production. In addition, some new devices have been launched, and the market supply has increased

third, in terms of demand, the downstream styrene, aniline, cyclohexanone and other markets continued to decline, mainly in a flat trend, and the demand for pure benzene continued to decrease. With the continuous decline of raw material prices, the wait-and-see atmosphere in the aniline Market was heavy, and the procurement in the downstream market was slightly light. This week's industry conference was held, and some high-level aniline is expected to decline after the industry conference. So far, there is a weak trend, and the supporting effect on the pure benzene market no longer exists. The prices of styrene manufacturers have been suppressed from time to time in the recent period, and some units have been shut down. However, the overall market circulation source is still relatively abundant, and the purchase is on demand and the purchase is limited. Although the spot transaction negotiation is still dominated by small orders, the large order transaction is lack of boost. The merchants in the spot market are cautious, and some of them hold a small amount of goods every day. Recently, some short sellers in the market have begun to make up for it. In addition, some merchants continue to purchase low-cost goods to balance the demand for lower costs, and there is a slight increase in the demand for covering positions in the downstream. However, the manufacturer's price has fallen again, and the demand has retreated. Under the wait-and-see situation, the market is soft

IV. affected by the adjustment of national policies, the demand for some end products of pure benzene has decreased with the pressure of the real estate market, which indirectly has a certain impact on the pure benzene market

v. the decline of hydrogenated benzene market makes businesses unpredictable about the low end. Recently, there are few inquiries, and the market is mostly in a state of price without market. Facing the pressure of inventory and the continuous decline of the market, some manufacturers have to reduce the load or even stop to wait and see. At present, the low-end price in the market is 4800 yuan/ton, so it is difficult to maintain the high price in the pure benzene market

at present, the external market followed the trend of intraday oil prices and fell violently. Yesterday's closing price fell sharply, and Asia closed at USD/ton. The offer continued to decline this morning. In the afternoon, with the slight rebound of intraday oil prices, the offer rose. The delivery of shipment goods in July reached USD 770/ton (FOB South Korea's main port), and the delivery of shipment goods in August reached USD 785/ton, up USD/ton from the morning. With the sharp decline of the outer market price, the price difference between Asia and Europe has been at USD/ton so far, and the intercontinental arbitrage opportunity between Asia and Europe still exists, and arbitrage continues; The price difference between Asia and the United States is $86/ton, and the arbitrage window opens in theory. However, under the current market situation, the positive expectation of arbitrage profit on the market is not obvious

domestic market: at the beginning of this week, the price of crude oil fluctuated and fell, and the domestic pure benzene market followed it all the way down. At present, the phenomenon of inversion between manufacturers and market prices still exists. This week, Sinopec's price has been reduced frequently and by a large margin. Up to now, Sinopec's price is 6200 yuan/ton. The market mainly takes small orders, and purchases on demand. Due to the large decline in the market, merchants are cautious and dare not rush to receive large orders for the time being, Therefore, there are few transactions in the market, which is basically in a situation of price without market. Businesses are more wait-and-see, waiting for the market to hit the bottom and rebound. However, at present, the market is not clear, and some businesses are waiting for the bottom

on the whole, in the case of no change in the external environment, the weak situation in the pure benzene market will continue. Under multiple pressures in the pure benzene market, the mentality of people in the spot market is still unstable. Near the end of the month, it is expected that the market will gradually stabilize. Most of them pay attention to the market in June and suggest merchants to hold positions cautiously

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content