Price trends
According to statistics, this week’s domestic ex-factory price of p-xylene showed a temporary steady trend, with an average weekend price of 7,000 yuan/ton, a temporary steady trend compared with the price of 7,000 yuan/ton at the beginning of the week, down 7.89% year-on-year.
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II. Market analysis:
Products: This week, the domestic market price trend of p-xylene is stable, the domestic PX start-up rate maintains more than 70%, Huizhou refining and chemical plant runs steadily, Fuhaichuang plant starts a line, Pengzhou Petrochemical plant runs steadily, Yangtze Petrochemical PX plant runs normally, Jinling Petrochemical plant runs smoothly, Qingdao Lidong plant runs at full load, Qi Luzhou Petrochemical Unit runs steadily, Urumqi Petrochemical Unit starts about 50%, Hengli Petrochemical Unit runs normally, domestic p-xylene supply is normal, recent international crude oil prices rise, domestic market price trend of p-xylene is temporarily stable. The opening rate of paraxylene plant in Asia is over 70% this week. The supply of PX in Asia is normal. The price of PX external market declined this week. By the end of the week, the closing price of paraxylene market in Asia was 832-834 US dollars/ton FOB in Korea and 851-853 US dollars/ton CFR in China. More than 50% of domestic products need to be imported. The closing price of PX external market was lower. The decline has brought some negative effects to the domestic market, and the price trend of domestic PX market is temporarily stable.
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Industry Chain: Domestic crude oil price closed down this week. As of 18 days, the price of WTI crude oil futures market in the United States was $55.30 per barrel, Brent crude oil futures price was $61.93 per barrel. This week, crude oil closed down sharply, losing some cost support for downstream petrochemical products. The price of PX market was temporarily stable. This week, PTA downstream market price trend slightly declined, this week’s decline was 0.86%. By the end of the weekend, East China PTA market talks were around 6450-6550 yuan self-lifting. Upstream raw material PX market price trend was stable. This week PTA plant start-up rate maintained about 90%, downstream polyester plant start-up rate about 86%, Jiangsu and Zhejiang textile start-up rate maintained 72%. About, downstream PTA and polyester products start-up rate maintained high, PTA price decline has a negative effect on the market price of p-xylene, the market price trend of p-xylene is temporarily stable.
Industry: This week, the textile industry has been in a turbulent situation, with high start-up rate, low crude oil prices and stable raw material PX market.
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3. Future market forecast:
Chen Ling, an analyst with business association PX, believes that the recent decline in crude oil prices, coupled with a slight decline in PTA market prices, has little change in downstream textile industry startup rate and normal domestic PX market supply. It is expected that the price of PX market will remain volatile next week.