1、 Price trend
According to the bulk list data of business society, the price of mixed xylene rebounded after falling this week. On September 12, the price of mixed xylene was 5710 yuan / ton; On Sunday (September 19), the price was 5800 yuan / ton, up 1.58% from last week; Compared with the same period last year, it increased by 62.92%.
2、 Analysis and review
Driven by the sharp rise in the prices of refined oil and related aromatic products, mixed xylene rebounded after falling this week. The price of gasoline blending rose, and the market trend of downstream terminals was strong; The overall trend of raw crude oil is upward, the market guidance is good, the market is bullish, and the price support psychology is not reduced. The port inventory of mixed xylene decreased this week.
In terms of external market, as of September 17, the price of mixed xylene imported from South Korea was US $772.5/t, up US $10 / T or 1.31% month on month compared with September 10; The reference price of domestic imported mixed xylene was 795 US dollars / ton, up 12 US dollars / ton or 1.53% month on month on September 10.
In terms of crude oil, hurricane IDA has a great impact on U.S. oil and gas production, and the recovery of oil and gas production is slow. In addition, U.S. crude oil inventory and refined oil inventory have decreased, and the international oil price has shown an overall upward trend this week. On September 10, Brent rose $2.42 / barrel, or 3.32%; WTI rose $2.25/barrel, or 3.23%.
Downstream, in the PX market, in the PX market, the domestic PX trend was temporarily stable this week, with the price of 7100 yuan / ton, up 54.35% over the same period last year. As of September 17, the closing prices in Asia were USD 894-896 / T FOB Korea and USD 912-914 / T CFR China.
In terms of PTA market, PTA in East China rose broadly this week and fell slightly near the weekend. On Friday (September 17), the price was 4926.36 yuan / ton, up 3.63% from last week and 40.6% from the same period last year.
In the ox market, the price of orthobenzene rose this week. On Friday (September 17), the price of ox in East China was 6500 yuan / ton, up 1.56% from last week and 47.73% from the same period last year. With the advent of the double festival, the logistics shutdown is imminent, the stock of enterprises is increasing, and the driving force for the rise of o-benzene is increasing; The environmental protection supervision team was restarted, the shutdown and production restriction of chemical enterprises increased, and the chemical sector rose together, driving the rise of orthobenzene prices.
3、 Future forecast
In terms of crude oil, with the recovery of oil and gas production in the Gulf of Mexico, the oil price may fall. Continue to pay attention to the impact of the epidemic situation, OPEC + decisions on crude oil production, US crude oil and refined oil storage dynamics, global economic conditions and so on on on crude oil prices.
The downstream trend was strong, the port inventory of mixed xylene decreased, and the fundamental support was good. However, the weak market demand situation is difficult to change in the short term, and the mixed xylene is expected to fluctuate in a narrow range next week. Pay attention to the impact of the operating rate and demand of downstream units, as well as the trend of crude oil and external market on the price of mixed xylene.