Raw crude benzene new single offer is still down

According to the monitoring data, the raw material crude benzene new single offer is still falling, while the market price of downstream coking benzene, hydrogenated benzene and maleic anhydride remains unchanged.

The new quotations of crude benzene continued to decline. The crude benzene market in East China is currently down by 50 yuan/ton, Jiangsu, Zhejiang, Anhui, and Shandong, with new lows of 8,300 yuan/ton; the high crude benzene market in Central China is blocked, the atmosphere in the market is strong, and the listing price in the two lakes remains unchanged. Shipments fell by 150 yuan/ton; crude benzene in the northeast region operated weakly, and the price in the Qitaihe area in Heilongjiang was loosened. Although some local coking plants are firm, the manufacturers have said that shipments have been hindered recently, and that the downstream is more cautious in accepting goods at high levels. The coke enterprises generally stated that they plan to lower prices later.

The coking benzene market was weakly stable and the manufacturers did not lower their intentions for the offer. However, the space for actual traders increased their talks. However, the high level of the downstream business was inconsistent, and the negotiation atmosphere was deserted. The raw material crude benzene is still falling, the coking benzene cost support weakens, and the downstream loss of maleic anhydride has not been eased, and the demand for coking benzene has dragged down the market. Under the drag of demand, the short-term price of coking benzene may also be lower.

Hydrogenation benzene market consolidation operation, the transaction price fell steadily. In Shandong, Shanxi, and Jiangsu, the actual transaction price dropped by around RMB 100/ton, and the receipt of goods in Jiangsu Province was also low. The shipments in various regions were poor. Due to the unsatisfactory auction conditions of crude benzene and light benzene at various coke plants in recent days, the prices have fallen, the market has higher expectations for price corrections, and the downstream product market is relatively bleak. Most manufacturers have profitability difficulties, which is also due to hydrogenation of benzene. The price formation will certainly suppress. Hydrogenated benzene market is facing a greater downside risk.

The maleic anhydride market stalled, transactions were difficult, and the market talked coldly. The manufacturers in the Jiangsu market are now confusing and the actual negotiation price has dropped by RMB 100-200/ton. At present, the overall operating rate of the maleic anhydride market is not high, and the cost pressure has not been eliminated. The maleic anhydride manufacturers still have a very price-minded attitude; the downstream unsaturated resin and BDO market are extremely depressed, and the manufacturers have not returned to normal operation after the festival, and the demand for maleic anhydride as a raw material is not increasing. good. Upstream and downstream pressure, maleic anhydride market is difficult to change in the short term sluggish trend.

External disk** went down slightly. On February 26, FOB Korea in Asia closed at 1404.5-1405.5 USD/ton, and FOB Southeast Asia closed at 1397-1398 USD/ton, both falling by 3.5 USD/ton. Crude benzene at present is under the support of goods, and the decline in the latter period may be limited. While the coking benzene and hydrogenation benzene markets are dragged down by demand, there is a risk of going down.