Price shock upstream in chemical products including pure benzene in late August

 

 

In late August, the price of 7 products, including methanol, benzene and styrene, which are included in 10 chemicals monitored, is increased; with respect to the PVC and butadiene rubber, the price is decreased slightly and it is equal to that of previous periods for sulfuric acid (98%).  

During this monitoring stage, the international oil price shocks upward, and some chemicals are just required to be supported, so the price has gone up. In spite of the short-term downward expectations of oil prices, the price of the majority of petrochemical products is still likely to remain high due to the favorable supply and demand. 
 

 

 

In the early mid-August, the price of methanol in the mainland is increased, to a small extent, by reason of equipment maintenance, active procurement of olefin enterprises and other factors, with an increasing of 1.2% within two monitoring periods. In late August, the attentions paid to the market are retraced; the price is closed at CNY 1747.6/ton on account of the factors, such as import and domestic cargoes’ port arrival, which is increased to CNY 3/ton compared with that of the last period. Although the price is increased slightly, the increasing is decreased to 0.2%. Despite the downstream demand in September will be improved, the shock finishing may play a main role in the methanol market for the easing supply will continue to be a great pressure on the market. 

 

 

 

After the price has been decreased for continuous three monitoring periods, the market price of styrene is increased successively for two periods. Its price will be closed at CNY 8283.8/ton in this monitoring period, with an increasing of 1.1%, which is relatively lowered than that of the last period. The price rise is mainly affected by unit maintenance, continuous oil prices rising and fundamentals, the market price of styrene is predicted to be increased continuously in September under tight supply, rebound of anticipated demand and cost support. 

 

 

 

After the sharp rising in the last period, the price of the pure benzene will be increased continuously in this monitoring period, and it will be closed at CNY 5346.9/ton, which will be the highest one within the several periods from July and is increased by 1.7% compared with the previous month. Mainly due to the good internal and external circumstance, the price is increased, and it is predicted that the market price will be remained at a high position consecutively in September because there are still many good upstream and downstream factors. (by chinayie.com)