On October 21, the PX commodity index was 54.40, unchanged from yesterday, down 46.88% from 102.40 (2013-02-28), the highest point in the cycle, and up 19.43% from 45.55, the lowest point on February 15, 2016. (Note: cycle refers to 2013-02-01 to now).
According to statistics, on the 21st, the domestic market price trend of p-xylene was temporarily stable, the operation of the 600000 ton new plant in Hongrun was stable, the operation of the petrochemical plant in Pengzhou was stable, 50% of the petrochemical plant in Urumqi was started, one line of the aromatics plant in Fuhai Chuang was started, CNOOC Huizhou refining and chemical plant was overhauled, the PX plant in Hengli Petrochemical was put into operation, and other units were temporarily stable. As the new plant was put into operation, the domestic The market supply of xylene is normal, and the market price trend of p-xylene is stable temporarily. The operating rate of PX plant in Asia is about 80%. On October 18, the closing price of p-xylene market in Asia dropped by 6 US dollars / ton, and the closing price was 767-769 US dollars / ton fob in South Korea and 787-789 US dollars / ton CFR in China. Over 50% of domestic products need to be imported. The decline of external price has a certain negative impact on the domestic market price of p-xylene, but the domestic market price trend is stable temporarily.
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On October 18, WTI crude oil futures market price in the United States fell to US $53.78/barrel, or US $0.15. Brent crude oil futures price fell to US $59.42/barrel, or US $0.49. Measured by total domestic delivery, domestic oil demand in the United States was 20.8 million barrels / day, the highest level in September. 3.2% less than August, but 3.5% more than September 2018. As of September, the total oil demand is 20.5 million barrels per day, up 0.3% year-on-year, the highest level since 2007. The crude oil price has declined slightly, which has limited cost support impact on downstream petrochemical products, and the domestic p-xylene price trend is stable. In recent years, the textile industry market has been volatile, the PTA Market operating rate has declined, and the PTA price trend has remained low. The average offer price in East China is around 5000-5100 yuan / ton. As of the 18th day, the domestic PTA operating rate is about 87.3%, and the polyester industry operating rate is about 89.5%. Due to the sufficient supply in PTA field and general transaction atmosphere, the purchase is dominated by traders, followed by sporadic polyester factories, which are affected by the original oil price. The price of PTA in the downstream market is slightly lower due to grid shock, and it is expected that PX market price will maintain 6800 yuan / ton in the short term.
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