Relationship between Oil-Based Benzene Inventory and Price
Recently, the oil-based benzene price has moved sideways, giving no clear direction regarding the future market. Market players trade cautiously. Thus, it is necessary to review the possible influences caused by the oil-based benzene’s fundamentals.
As shown by the above chart, the oil-based benzene price fluctuates in the range of RMB 7,500-7,800/mt this year, and the oil-based benzene inventory at major ports in East China already nears 80kt. Besides, the oil-based benzene imports will be limited in June. Market players hold no positive attitudes towards the future market. What is the relationship between oil-based benzene inventory and price?
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