On August 26th, the PX Commodity Index was 66.40, which was the same as yesterday. It was down by 35.16% from the highest point of 102.40 points (2013-02-28) in the cycle, which was 45.77% higher than the lowest point of 45.55 on February 15, 2016. (Note: Period refers to 2013-02-01 to date)

Recently, the domestic market price of paraxylene rose slightly. The equipment was repaired by Pengzhou Petrochemical. The Urumqi petrochemical plant started 50%. The Tenglong aromatic hydrocarbon plant has been in the parking. The other devices are temporarily stable and the domestic p-xylene market is normal. The operating rate of PX devices in Asia is less than 70%. On August 24, the closing price of the paraxylene market in Asia increased by US$6/ton, and the closing price was US$1227-1229/ton FOB Korea and US$1246-1248/ton CFR China, USA WTI crude oil futures market price rose in October, reported 68.72 US dollars / barrel, or 0.89 US dollars, Brent crude oil futures prices rose to 75.82 US dollars / barrel, or 1.09 US dollars, the upstream raw material prices rose slightly, coupled with the recent textile The industry’s market remained high and the PX market price rose slightly. The downstream PTA market was affected by the delay in resumption of production, and the PTA supply was slightly tight or continued. As of the 24th, the domestic PTA operating rate was around 81.6%, the PTA price continued to rise, and the average price in East China was 8800-8850 yuan. /Ton the vicinity of the self-raising, coupled with the downstream production and sales maintained relatively high level of smooth operation, PTA is still in a balanced small de-stocking state, it is expected that the PX market price will rise slightly in the later period.

First, the price trend:

According to data from the business community, the price of ortho-benzene increased sharply this week. At the end of this week, the price of o-xylene was 7,837.50 yuan/ton, which was an increase of 500 yuan/ton from the price of o-xylene (OX) of 7562.50 yuan/ton on August 10, or 3.64%, up 31.72% year-on-year.

Second, the market analysis:

Product:

This week, the inventory of phthalene in the East China Port remained at a low level. As of August 17, the inventory of Huadong Port was about 30,000 tons. The price of phthalate external disk continued to be high. On August 17, the market for the o-xylene market in Europe was quoted at US$970.00/ton FOB Amsterdam, Rotterdam and Antwerp, which was stable compared with the last week. The price of phthalate external disk was high, the cost of imported benzene increased, the price of imported benzene increased, and the price of benzene in port area increased significantly. The rising price of benzene in the port has prompted the domestic price of o-xylene to rise, and the growth of benzene is full.

Industry chain:

Mixed xylene prices fell this week, and the cost of o-xylene decreased. On August 17th, the price of mixed xylene was 6,658.18 yuan/ton, which was 6670.91 yuan/ton compared with last weekend (August 10). The price fell by 12.73 yuan/ton, a decrease of 0.19%. The price of mixed xylenes fell, the cost of o-xylene decreased, the momentum of the growth of o-benzene market weakened, and the decline of o-benzene stocks was possible.

Third, the market outlook:

Baijiaxin, an analyst of o-xylene data in the business community, believes that the price of phthalate external disk is at a high level, the price of phthalate in the port remains high, and the stock of benzene in the port is low, which plays a positive role in maintaining the domestic benzene high market. The price of mixed xylene in domestic benzene raw materials has decreased, and the cost of ortho-benzene has decreased, which is negative for the rise in the price of ortho-benzene. The port’s benzene stocks are at a low level, and the market’s soaring voice is highlighted. Moreover, the Sino-US trade war has intensified. China has imposed a 25% tariff on its neighboring benzene imported from the United States, further increasing the cost of importing ortho-benzene. The price of phthalonitrile external disk is unlikely to decline in the short term, and the strong neighboring benzene factor is strong. The growth of o-benzene is full, but due to the rapid growth of phthalate in the early stage and the decline in the price of raw materials, it is expected that the rise of phthalene in the market may be lower, and the market for benzene in the market will remain stable.

First, the price trend

According to business community data monitoring, this week, the price of cobalt fluctuated and fell by 2.16%. As of August 12, the average price of cobalt was 483333.34 yuan / ton, compared with the average price of cobalt at 494000.00 yuan / ton last weekend, the price of cobalt fell 10666.66 yuan / ton, down 2.16%, up 17.22% over the same period last year.

Second, the market analysis

Product aspect

This week, the average price of domestic metal cobalt market fell. The price of cobalt sheet (content ≥99.8%) of Wuxi Stainless Steel Trading Center fell. As of August 10, the price of cobalt was 475000-512000 yuan/ton, which was 483,000-516,000 yuan/ton from last weekend, and the price dropped by 6,000 yuan/ton. The spot cobalt price in the London LEM market fell first and then rose from last week’s 63,500-64,000 US dollars / ton to 54500-55,000 US dollars / ton, and then rose to 61,500-62,000 US dollars / ton. Overall, the cobalt market fluctuated and fell this week. The international cobalt price has rebounded, but it still cannot change the downward trend. The short-term rise does not indicate that the cobalt market is picking up, nor can it prove that the cobalt price has rebounded.

Data statistics

According to the statistics of the China Association of Automobile Manufacturers, the data shows that in July, the production and sales of new energy vehicles were completed 90,000 and 84,000 respectively, an increase of 53.6% and 47.7% over the same period of the previous year. From January to July, the production and sales of new energy vehicles were 504,000 and 496,000, respectively, an increase of 85% and 97.1% over the same period of the previous year. The output of new energy vehicles in July increased compared with that in June, but the sales volume was basically maintained. The performance of new energy vehicles is still strong, but the growth rate has slowed down compared with the previous period. The slowdown in the growth rate of new energy vehicles has caused the market to lower the demand for cobalt. The cobalt market will bear a lot of pressure to sell cobalt, which will affect the rise of cobalt prices.

Third, the outlook outlook

This week, the cobalt market fluctuated and fell. Baijiaxin, a data analyst at the business community, believes that the new energy vehicles performed well in July, which guaranteed the basic demand of the cobalt market, but the growth rate of new energy vehicles began to slow down, limiting the strength and speed of the rebound of cobalt prices. The political risks of the Democratic Republic of Congo will affect the supply of cobalt in the future, and this impact will occur in the next two months. It is predicted that the price of cobalt will be adjusted in the future, and the price of cobalt will still fall in the short term. However, in the future, we should pay attention to the political dynamics of Congo, and there may be a short-term rise in cobalt prices before and after the election.

First, the price trend

According to business data monitoring, this week, the zinc price fluctuated and the overall zinc price remained balanced. As of August 3, the zinc price was 2,1835.00 yuan / ton, compared with the last weekend (July 27) zinc price of 21,812.50 yuan / ton, the price rose 0.10%, compared with the beginning of this week (July 30) zinc price 21,892.50 yuan / ton The price fell by 0.26%, down 8.40% year-on-year.

Second, the market trend analysis

Product aspects:

On August 3, the London LME market zinc futures closing price was 2,631 US dollars / ton, compared with the beginning of the week (July 30) zinc closing price of 2,557 US dollars / ton, the price rose 74 US dollars / ton, August 3, London LME market spot price 2650.00-2651.00 US dollars / ton, compared with the beginning of the week 2589.50-2590.00 US dollars / ton price rose 61 US dollars / ton. On August 3, Shanghai futures market futures zinc closing price was 21,735 yuan / ton, compared with the opening price of 21,450 yuan / ton at the beginning of the week, the price rose 285 yuan / ton. The futures zinc price rose, driving the spot zinc price to rise, the zinc price market temporarily stabilized, and the zinc market rebounded strongly.

Policies and regulations

The Customs Tariff Commission of the State Council issued an announcement on August 3rd to impose tariffs of 25%, 20%, 10%, and 5% on 5,207 tax items originating in the United States. The Ministry of Commerce also issued a response on the evening of the 3rd, saying that the implementation date of the taxation measures will be determined according to the actions of the US, and China reserves the right to continue to introduce other countermeasures. Among the commodities subject to tariffs, including zinc ore and concentrates, the increase in tariffs has led to an increase in the cost of domestically imported zinc concentrates, or a slight increase in domestic zinc prices. However, considering that China’s imports of zinc ore from the United States account for a relatively small amount, it cannot fundamentally affect the domestic zinc market, but the increase in tariffs is still a driving force for the rise in zinc prices.

Third, the outlook

Business analysts believe that this week’s Sino-US trade war continues to heat up. Following the US announcement of tariffs on Chinese goods, China introduced counter-measures and introduced tariffs on US$60 billion in US goods. This time, the zinc industry was implicated. Zinc mines and zinc concentrates were added to the tariff list. The increase of tariffs caused domestic enterprises to increase the cost of importing zinc mines from the United States, and the domestic zinc market increased pressure. The exchange rate of the renminbi against the US dollar has risen, the purchasing power of the renminbi has declined, and the import cost of zinc ingots has increased, which has increased the pressure on zinc prices. The increase in cost will prompt an increase in zinc prices in the market. However, as the overall zinc market is still in an oversupply situation, zinc prices are unlikely to rise sharply. It is expected that the zinc price in the market will fluctuate and adjust slightly, but the average price of zinc will remain in August. Difficult to exceed 23,000 yuan / ton.

According to the price monitoring of the business community, the price of the metallurgical grade metal silicon market rose first this month. As of July 31, the average price of 441# metal silicon was 12100-13100 yuan / ton.

This month, the domestic metal silicon market fluctuated significantly. From the quotation of each household, there is a certain difference between high and low quotations. The low quotation is often affected by the inventory backlog. However, from the market point of view, except for some just-needed orders, most of the orders are less, mainly because the low-grade purchase price rises, most buyers are not highly accepted. As the price of metal silicon tends to be stable, most trade markets have entered a wait-and-see attitude after they are short of supply. Now the state of the market is that high prices cannot be sold, and there is no way to buy them at low prices.

The metal silicon analysts of the business community believe that the purchasing intention of downstream enterprises is not very strong at this stage. Most buyers have adopted a wait-and-see attitude. Metal silicon will be in a stable state for some time to come.