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[Industry Reports]：Pure benzene market continues to fluctuate downward

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August, the domestic pure benzene market continued to fluctuate downward. Earlier this month, crude oil and styrene were less volatile, market support weakened, and pure benzene market prices continued to fall. Operators are cautious, the market is weak, and downstream profits are seriously lost. They buy at a higher price. Subsequently, the styrene market was upward, pushing the pure benzene market to rebound slightly, the downstream actively entered the market to buy, the market trading atmosphere improved, the crude oil and styrene futures fell again in the middle of the month, the support for the pure benzene market weakened, the supply of pure benzene in the market increased, the downstream demand continued to be depressed, the market focus declined, the spot negotiations were cold, and the port continued to fatigue. In late October, the styrene plate rebounded, beneficial to the pure benzene market. Natural gas purchases rebounded in east China, with most quotes rising and downstream actively entering the market to buy. However, with the end of pure benzene delivery in East China at the end of the month, the market demand decreased, the market trading slowed down, and the price of pure benzene was weak. This month, Sinopec pure benzene listing continued to decline. As of August 30, Sinopec's pure benzene market price was 700 yuan/ton. Towards the end of the month, the market has a narrow upward trend.

the future, in terms of supply, domestic pure benzene early maintenance equipment has begun, Shenghong new equipment is expected to produce products by the end of September, on-site supply increased, the recent increase in pure benzene imports, East China ports continue to accumulate; demand, downstream profit recovery, September part of the maintenance equipment to resume driving, downstream pure benzene demand or improve expectations.

overall, the late pure benzene field supply increased, downstream construction is also expected to improve, pure benzene demand or incremental, but considering the downstream profit is still losing money, pure benzene is easy to fall, difficult to rise, it is expected that pure benzene prices or maintain low integration operations, continue to pay attention to crude oil and downstream market trends.

Source: Zhongyu Information

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