Price Trend
The domestic xylene market has been strong this week, rising steadily, with a weekly increase of about 2%, due to the support of downstream demand, according to a large number of data from business associations.
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II. Analytical Review
1. Products: Influenced by downstream demand, the market price of xylene has been firm and rising steadily this week. At present, the mainstream price in East China is around 5850-5880 yuan/ton. According to the feedback from traders, this week’s transaction is still acceptable. Compared with last week’s, the port stock dropped by 4,000 tons to about 65,000 tons.
2. Industrial chain:
Upstream, crude oil, affected by Trump’s tariff comments, this week’s oil prices rose and fell unevenly, spot Brent rose 0.43%, Brent futures rose 0.52%, WTI futures fell 4.12%, Dubai futures rose 0.32%.
On the downstream side, in the PX market, the overhaul unit was restarted and new units were put into production to support the demand for isomeric xylene. In the PTA market, the possibility of PTA weakening in the short term is greater due to the restart of equipment maintenance and the increase of supply pressure. On the OX market, the external quotation fell, while the downstream market of phthalic anhydride and plasticizer warmed up.
3. Future Market Forecast
Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the trend of the situation in the Middle East, the United States and Iraq, the follow-up game of Sino-US trade negotiations, and the expected fluctuation of crude oil demand in the global economic outlook after a new round of interest rate cuts by the global central bank. Overall, the toluene market is expected to adjust next Tuesday.
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