Benzene: three-four good bad PK – benzene, petroleum benzene – chemical industry
Early June, the International Benzene (FOB Korea) closing stock price of 640 U.S. dollars / ton, up 13% compared with May; while domestic benzene (Sinopec Guapai Jia) in May to early June, has remained at 5,000 yuan / ton , and the actual transaction is slightly lower, the international drive to break the routine domestic market. Analyze the reasons, in addition to early traders a lot of spit domestic goods, there is depreciation of the dollar and other factors led to a substantial rise in international oil prices, and then follow up the international benzene, resulting in the domestic market value of the external disk shrink reference to international and domestic relative figures the widening gap. Benzene domestic market, facing four good, three bad the game is expected to shock consolidation pattern will remain the market outlook. <<<For more exciting Click here
Four positive First, by the early traders a lot of Paohuo influence, domestic integrated stocks decline. By the early traders bearish on the psychological impact, in May of domestic enterprises and port stocks plummeting. According to statistics, the port from the original inventory dropped to 180,000 tons in May to 60,000 tons, and because of high external disk, and no follow-up to large imports, effectively inhibited the domestic Benzene prices fell, the two groups is conducive to control resources, stabilize prices, the market steadied gradually warmer.
Second, Oil Alternative to the hydrogenation of benzene, benzene and benzene production by refining the high cost of crude benzene has been cut. 4 May, as oil prices fell benzene, benzene resources coupled with the decline of domestic refining hydrogenation of benzene or benzene enterprises operating rate decreased again, on a certain support domestic pure benzene market. At the same time as the relative price of toluene than benzene, toluene resulted in production of pure benzene discontinued this line, reducing the supply of domestic benzene.
Third, the downstream demand to form a strong support and stability. Consumption accounts for nearly 50% lower proportion of the current market rebound. Such as styrene mainstream price in 7600 ~ 7,900 yuan / ton, up slightly from last month of 3%; Another aniline consumption rate than in May started a substantial increase in expected domestic consolidated operating rates will increase 8%; others such as cyclohexylamine, maleic anhydride and other major consumer species have different levels of demand growth, boost market will play a role in promoting the benzene
Fourth, with the introduction of export incentives, will spur the growth of demand for benzene. Benzene with international prices, export growth does not exclude domestic benzene, based on supply and demand balance, the linkage of domestic benzene prices.
Three bad First, by the para-xylene (PX) market rebound effect, June internal PX plant operating rates increase, such as normal driving, while output is expected to nearly 80,000 tons benzene, the downstream market will face great pressure digestion . In addition, in June drove Qilu Petrochemical plant will increase the market supply of benzene, the formation of favorable factors in the game on the market.
Second, downstream industry chain is the demand of individual industries sharp contraction, such as chlorinated benzene industry chain has been since May, a continuous decline in capacity utilization, the formation of negative psychology of the market, increased wait and see the atmosphere is not conducive to pure benzene market steadied . According to statistics, the domestic chlorinated benzene general corporate rate of only 40% start their downstream nitrochlorobenzene start from the April rate of 60% to about 40% in May, inhibit the benzene part of the consumer.
Third, since international Financial Market volatility, leading to currency depreciation and South Korea will cause South Korean benzene further to the Chinese spit goods, the formation of the impact on the domestic market.
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