On October 8, the PX commodity index was 54.40, up 1.6 points from yesterday, down 46.88% from the peak of 102.40 points in the cycle (2013-02-28), and up 19.43% from the low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).
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According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 9th, Hongrun 600,000 tons new plant was running steadily, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Unit was starting a line, CNOOC Huizhou Refining and Chemical Unit was overhauled, Hengli Petrochemical PX Unit was put into operation, and other units were running steadily for the time being, due to the introduction of new units in China. The market supply of xylene is normal and the market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. On Oct. 8, the closing price of p-xylene in Asia dropped by 2 US dollars/ton. The closing price is 780-782 US dollars/ton FOB in Korea and 800-802 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The decline of foreign prices has a negative impact on the domestic market price of p-xylene, but the domestic market price trend is stable.
On Oct. 8, the price of WTI crude oil futures fell to 52.63 U.S. dollars per barrel, a decline of 0.06 U.S. dollars. Brent crude oil futures fell to 58.24 U.S. dollars per barrel, a decline of 0.02 U.S. dollars. In September, Saudi crude oil production facilities were attacked, which once significantly pushed up international oil prices. At present, the attack has brought short-term fluctuations to international oil prices in general. Over the past few days, the international oil price has fallen back to the level before the attack. In the near future, oil prices are expected to maintain a volatile trend in the region. The decline in crude oil prices has a negative impact on downstream petrochemical products, but the price trend of paraxylene is stable. Recent textile industry volatility, PTA market start-up rate maintained high, PTA price trend shocks, the average price of East China in the vicinity of 5100-5200 yuan/ton, as of 8 domestic PTA start-up rate of about 93%, polyester industry start-up rate of about 90%, due to adequate PTA supply, general trading atmosphere, mainly traders, sporadic polyester factories follow-up by crude oil prices. The price of downstream PTA market will remain low due to the shocks. It is expected that the price of PX market will remain 6,800 yuan/ton in the short term.
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