On February 26, the fluorite commodity index was 109.55, unchanged from yesterday, down 14.07% from 127.49 (2019-01-03), the highest point in the cycle, and up 122.62% from 49.21, the lowest point on December 18, 2016. (Note: cycle refers to 2011-09-01 to now)

According to statistics, the price trend of fluorite in China has increased slightly. As of the 27th day, the average price of fluorite in China is 3133.33 yuan / ton. Recently, the operation rate of fluorite plant in China is relatively low, and there is less resumption of construction of mine and flotation plant in the field. The supply of fluorite in the field is very tight. Recently, the price of hydrofluoric acid in the downstream has increased slightly. For the purchase on demand in fluorite market, the goods in fluorite field are in good condition, and the price trend of fluorite market is good Slightly higher. In the near future, the commencement of downstream units is common, the spot supply of fluorite in the site is tight, and the downstream of the terminal is purchased on demand, resulting in a small increase in market price. As of July 27, the price of 97 fluorite wet powder in Inner Mongolia was 3000-3200 yuan / ton, that of 97 fluorite wet powder in Fujian was 3000-3200 yuan / ton, that of 97 fluorite wet powder in Henan was 3000-3300 yuan / ton, that of 97 fluorite wet powder in Jiangxi was 3000-3300 yuan / ton, and that of fluorite slightly increased.

The price trend of hydrofluoric acid Market in the downstream of fluorite fluctuates. As of 27 days, the price of hydrofluoric acid Market in China is 10950 yuan / ton. The price rise of hydrofluoric acid market has a certain positive impact on the upstream fluorite market. However, in the near future, the operation of hydrofluoric acid plant is general, and the demand for fluorite is normal. Due to the impact of the epidemic, some enterprises have not yet started construction, and the supply of goods in the site is relatively tight, and the price of fluorite is small The amplitude is higher. In the near future, the transaction market of downstream refrigerants of the terminal has increased. At present, the automobile industry is gradually back to work. The supply of R22 in China is tight. The price trend of domestic refrigerants R22 market is rising slightly. The starting load of the manufacturer’s production units is still not high. The supply of goods in the market is general. The downstream air-conditioning manufacturers stop more and the demand changes little. The price mainstream of domestic large enterprises rises to 16500-1850 0 yuan / ton. The price trend of R134a market in China is temporarily stable, and the unit operation rate of production enterprises remains low. At present, the downstream operation is not high, and the demand for R134a is general. However, the supply of R134a in the market is a little tight, and the price remains stable, while the downstream purchase is still on demand, the price trend of hydrofluoric acid market is slightly higher, and the price of fluorite market is slightly higher supported by good conditions.

On the whole, the market of downstream refrigerant industry is rising slightly, the supply of fluorite is tight, and the price trend of hydrofluoric acid market is rising recently. Chen Ling, an analyst of business agency, thinks that the market price of fluorite may maintain a high level in the short term.

On February 24, the rare earth index was 341, down 1 point from yesterday, 65.90% from the highest point in the cycle, 1000 (2011-12-06), and 25.83% higher than the lowest point, 271, on September 13, 2015. (Note: cycle refers to 2011-12-01 to now).

The average price of neodymium, dysprosium and praseodymium is 372500 yuan / ton, 2325000 yuan / ton and 645000 yuan / ton respectively. The average price of praseodymium neodymium oxide in rare earth oxide is 282500 yuan / ton; the price of dysprosium oxide is increased by 10000 yuan / ton to 1815000 yuan / ton; the average price of praseodymium oxide is 320000 yuan / ton; the average price of neodymium oxide is 292500 yuan / ton. The price of praseodymium neodymium alloy in rare earth alloy is 358000 yuan / ton; the average price of dysprosium ferroalloy rises 15000 yuan / ton to 1790000 yuan / ton.

The price trend of heavy and rare earth in the rare earth market is rising, and people in the market are optimistic about the future market. Myanmar unilaterally closed the customs clearance port, reducing domestic imports. In addition, due to the impact of the epidemic in the near future, some rare earth products have not been fully restored to work. The price supply of heavy and rare earth in China is tight, and the price trend of heavy and rare earth in China is rising. However, the light rare earth mining index increased more than before, the market price of light rare earth declined, the on-site merchants had a strong wait-and-see attitude, and the high price transaction was blocked. The price fluctuation of rare earth market is related to the national environmental protection supervision. Rare earth production has particularity, especially some products have radiation hazards, which makes the environmental protection supervision more strict. Under the strict inspection of environmental protection, the manufacturers reasonably controlled the sales. In addition, affected by the epidemic situation, some enterprises have not yet started construction, but the demand in the downstream has not changed much in the near future, and most rare earth prices are stable.

According to the Ministry of industry and information technology and other documents, by 2025, the sales of new energy vehicles will account for about 25%. Global electrification is stepping into the acceleration period of high-quality models at the supply side. China’s double point policy and European carbon emission requirements have established a long-term development mechanism for new energy vehicles. Driven by national policies, the supply and demand pattern of rare earth industry is expected to further improve, domestic demand in China has improved, and the price of heavy rare earth in domestic rare earth market remains high.

Rare earth analysts of the business agency expect that in the near future, the intensity of strict environmental inspection in China will not be reduced. In addition, Myanmar’s import is blocked, the supply and demand pattern is improving in a better way, and the transportation is still restricted in the near future, and the market price of rare earth is expected to continue to rise.

1、 Price trend:

According to the monitoring data of the business agency, the price of ethylene in the external market has shown a downward trend in recent days. The average price of ethylene on the 24th was 775.75 US dollars / ton, 1.24% lower than the price on the 21st at 785.50 US dollars / ton, and the current price is 32.01% lower than that of last year.

2、 Market analysis:

Product: ethylene has declined in recent days. Asian ethylene market prices fell, as of 24, CFR Northeast Asia closed at $703-709 per ton, and CFR Southeast Asia closed at $726-734 per ton. The price of European ethylene market fell slightly. As of the 24th, the price of European ethylene market was FD, northwest Europe closed at $902-913 / ton, and CIF northwest Europe closed at $792-803 / ton. The price of ethylene in the U.S. region fell by 24, with a price of 324-337 US dollars / ton. Overall: in recent years, the market of ethylene in Europe and the United States has been declining, and the demand of the whole ethylene market is weak, with more than a drop. The industry pays more attention to the supply and demand after the festival.

Industry chain: International: on February 21, the settlement price of West Texas light oil futures in New York commodity futures exchange in April 2020 was $53.38 per barrel, down $0.50 or 0.9% compared with the previous trading day; the settlement price of Brent crude oil in London Intercontinental Exchange in April 2020 was $58.5 per barrel, down $0.81 or 1.4% compared with the previous trading day, and the crude oil began to fall after rising continuously The price of ethylene can not play a supporting role, and the external market of ethylene fell. The price of styrene and ethanol in the lower reaches of the river was in shock and consolidation, which could not support the price of ethylene.

3、 Future forecast:

According to ethylene analysts of business and chemical branch, crude oil has fallen back after rising for several consecutive days in the near future. There are different attitudes about whether the demand of oil market is improving. The price of crude oil in the later period still needs to wait and see. Therefore, data analysts of business and chemical branch expect that ethylene price will keep a narrow shock in the future.

1、 Price trend

The domestic butadiene market is still low this week. According to the monitoring of business agency, the market price of butadiene in China was 6626 yuan / ton at the beginning of the week, 6393 yuan / ton at the end of the week, down 3.52% in the week, down 20.92% in the month on month, down 31.43% year on year.

2、 Analysis of influencing factors

Product: this week, the domestic butadiene market continued to be in a weak situation. Although the logistics and downstream latex factories resumed work in the middle and later stages of the week, the raw material inventory of the manufacturers was relatively abundant, and the market was short of follow-up of new orders. The short-term external offer and the spot supply of the tank farm are abundant. There is no obvious price difference between the north and the south in order to stimulate the circulation of goods. The supply side of the market is still under pressure. The downstream inquiry is slightly cautious. Some high price offers in the North lack of real single support. In terms of price, the delivery price in Shandong Province is 6350-6600 yuan / ton, and the price in East China is 6500-6600 yuan / ton for reference, and the price is negotiated on a single basis.

In terms of enterprises, Sinopec’s butadiene supply price in East China decreased by 200 yuan / ton to 6800 yuan / ton on a month on month basis; the butadiene price in Liaotong chemical industry was 5710 yuan / ton, down 900 yuan / ton on a month on month basis; Dalian Hengli’s 140000 ton / year butadiene plant was in normal operation, some of which were sold abroad on spot, with the price reference to 5710 yuan / ton; and Jiutai’s 70000 ton / year butadiene plant in Inner Mongolia was in normal operation, with the quotation up to Thursday at 6100 yuan / ton on a month on month basis The price of CFR in mainland China fell 10.34% to 780 USD / ton on a month-on-month basis, and it was heard that there were lower price sources in Taiwan.

Industrial chain: styrene butadiene rubber: this week, the mainstream factory price of domestic styrene butadiene rubber sales companies gradually fell, with a cumulative decline of 400-800 yuan / ton, only PetroChina North China has not followed the last wave of decline. The start-up rate of styrene butadiene unit is around 5.10%; the styrene butadiene units of Jihua, Fushun, Lanhua and Bridgestone are all in normal operation; the styrene butadiene units of Qilu, Yangzi and Shenhua continue to reduce the negative operation; the styrene butadiene unit of Weitai is restarted and in operation at present; the first line of dynaso in northern Liaoning currently produces solution polymerized styrene butadiene rubber, which is planned to be scheduled to the end of this month; in addition, Tianjin Lugang and Hangzhou Yibang And Fuxiang chemical SBR plant continued to stop.

Cis-1,4-polybutadiene rubber: this week, the ex factory price of gaoshun cis-1,4-polybutadiene rubber, a mainstream domestic sales company, fell by 400-800 yuan / ton compared with the previous period; only CNPC North China sales company failed to keep up with the drop of 400 yuan / ton on February 18, which needs close attention in the later period. The operation rate of domestic high CIS polybutadiene rubber plant was maintained around 5.80%, and the inventory pressure of some enterprises was relatively high, and the operation rate declined slightly. The overall operation rate of CIS polybutadiene rubber plant had little change compared with last week.

3、 Future forecast

On the positive side, the price difference between butadiene and synthetic rubber is relatively large, and the downstream profits are considerable; the low market volatility attracts the downstream to seek for bargains and make up positions; the downstream latex industry has resumed work and recovered logistics. On the negative side, there is no price difference between the north and the south market, the supply of goods meets resistance in circulation, the supply of goods on the outside market is abundant and the market is declining, the supplier’s equipment operates normally, the supply is stable, the spot cost of the tank farm is high, and the delivery is slow. The price difference between butadiene and synthetic rubber has been greatly widened, and the market of butadiene has been supported by the bargain hunting of sporadic manufacturers. At the same time, the resumption of work and logistics in the short-term latex industry may effectively stimulate the spot circulation of butadiene. However, some manufacturers still have a certain stock of raw materials, and the production of butadiene industry is stable, and there is abundant spot supply in the tank farm. At the same time, the external market is under pressure, so it is difficult for the short-term market to have a sustained positive boost. Butadiene analysts of the Business Association predict that if the northern export sales increase in the next cycle, the business situation is still weak, so it is recommended to pay attention to the information of suppliers and the guidance of downstream construction.

On February 19, WTI crude oil futures market prices in the United States rose sharply, with the main contract at 53.49 yuan / barrel, up $1.44. Brent crude oil futures rose, with major contracts up $1.37 to $59.12 a barrel. Since February 11, the oil price has risen for seven consecutive trading days. On the one hand, the impact of China’s epidemic has been gradually digested, and the market’s impact on the decline of crude oil demand has been significantly reduced. On the other hand, the rise of U.S. sanctions against Venezuela and the benefit of OPEC’s production reduction have made the oil price continue to rebound. According to the test of business agency, WTI increased by 7.91% and Brent crude increased by 10.98%.

Specifically:

First of all, at present, China continues to introduce new measures to support local enterprises suffering from the epidemic. The combination of financial and fiscal policies has boosted market confidence and eased the pressure on enterprises. In addition, with the large-scale resumption of work, the market’s general concerns about the economy are gradually released, which also eases some of the concerns about the decline of fuel demand, and also brings a boost to oil prices.

In addition, the U.S. Treasury issued a statement on the 18th local time, announcing that Rosneft trading S.A., a subsidiary of Rosneft. Oil trading companies. The U.S. government says it provides the Venezuelan government with a financial lifeline. The US sanctions against Venezuela have been gradually upgraded to block the “oil route” of Venezuela in an all-round way. Leading to the deepening of market supply and doubts.

In addition, market supply side benefits are gradually emerging, and expectations for OPEC + composed of the organization of Petroleum Exporting Countries (OPEC) and its allies to continue to deepen production reduction are still rising. OPEC has been implementing production reduction to support oil prices. The organization will hold a meeting next month, and the market generally has hopes for meeting expectations. In addition, there is a certain supply risk in Libya. Because of the blockade of ports and oil fields, the supply situation in Libya has deteriorated, thus supporting the rebound of oil prices.

In addition, data released by the American Petroleum Institute (API) on Wednesday showed that crude oil inventory in the United States increased in the latest week, but gasoline and distillate inventory declined significantly. U.S. gasoline inventories fell 2.7 million barrels in the week to February 14, according to API data, after analysts had forecast an increase of 435000 barrels. Distillate stocks, including diesel and heating oil, fell 2.6 million barrels last week, after analysts had forecast a drop of 1.46 million barrels. Inventory data also plays a positive role in oil prices.

In the future, the business club believes that the current crude oil price is still far lower than the peak value at the beginning of the year (refer to the highest $65.65 in WTI on January 8). The oil price is a short-term rebound, which is also a repair of the previous oversold market. The current environment of crude oil is relatively complex, and the trend of global demand cooling is still irreversible, which will be a long-term negative for the oil price. The good supply at present will boost the short-term Oil prices, but crude oil is still unable to get rid of the long-term downturn in demand.

1、 Price trend

According to the price monitoring of the business agency, as of February 18, the average price of domestic aggregate MDI market was 13150 yuan / ton, up 1.15% month on month, down 1.13% year on year. The overall market was calm.

2、 Market analysis

Product: the aggregate MDI market is sparsely traded, and the market price is in a weak range of volatility. The market has learned that the logistics situation in the north is gradually recovering, but the downstream return rate is not high, and the overall demand for goods is still many. There is no clear guidance message from the supplier’s factory for the moment, and the overall attitude is still stable; most of the traders are on the lookout, and some of the traders in the northern region have a positive phenomenon of low price shipment.

In terms of market, North China aggregated the weak points of MDI. There is no clear guidance message from the supplier’s manufacturers and no positive sign from the demand side. Traders wait on the market and wait for inquiries from downstream customers. There is little actual trading in the field. South China aggregate MDI market weakness consolidation. In terms of trade, logistics and delivery are limited, and the downstream of inquiry and purchase is rare. The industry is waiting to see the full resumption of work downstream. East China gathered the weak points of MDI market and waited for the market to open in an all-round way. The epidemic situation in East China is more serious, the market demand side is still not significantly improved, traders generally respond to the Limited Logistics and poor inquiry.

Industry chain: in terms of raw materials, crude oil rose, pure benzene US gold plate strengthened, supporting market mentality. At present, the logistics and transportation have been improved, and a small amount of products have been shipped from the refineries. It is reported that Jiangsu customers are looking for goods from Shandong. Shandong pure benzene market is 5100-5200 yuan / ton, with a slight drop in the center of shipment, with a price of 5050 yuan / ton.

Aniline: insufficient follow-up of downstream purchase of aniline, general delivery of aniline factory, stable price, slow inventory removal. The main price of Shandong aniline is 7000 yuan / ton spot exchange, 7140 yuan / ton acceptance, and 6950 yuan / ton acceptance in East China market.

3、 Future forecast

Business Club view: Business Club aggregate MDI analysts expect that aggregate MDI market is mainly stable.

1、 Price trend

According to the data monitored by the business association (average ex factory price of SG5 by calcium carbide method), the average price of domestic PVC mainstream on February 17 was 6675 yuan / ton, down 0.93% compared with 6737.5 yuan / ton the previous day, up 5.12% compared with the same period last year. On February 17, the PVC commodity index was 84.58, down 0.79 points from yesterday, down 15.42% from the highest point in the cycle of 100.00 (2011-09-05), and up 45.15% from the lowest point of 58.27 on December 20, 2015. (Note: cycle refers to 2011-09-01 to now)

2、 Market analysis

Products: at present, the downstream enterprises are slow to return to work, the demand is low and hard to vibrate, the inventory pressure of PVC production enterprises is increased, the operating rate is declining, and the transportation is limited, so the PVC spot market has few trading volume and limited trading volume, and some production enterprises do not report the closing price, the market is mixed with many empty spaces, and the PVC price is under pressure. According to the data monitoring of business agency, as of February 17, the main quotation range of domestic PVC is 6600-6950 yuan / ton. At present, the main stream of pvc5 carbide in Changzhou is around 6320-6450 yuan / ton, and the range of pvc5 carbide in Hangzhou is 6300-6450 yuan / ton. The main stream price of PVC ordinary carbide in Guangzhou is around 6300-6350 yuan / ton. The real deal can be negotiated.

Futures: PVC main v2005 contracts were narrowed, closing 6300 yuan / ton, compared with – 20 yuan on the previous trading day; trading volume 81044 hands, – 1901 hands; positions 193366 hands, – 730 hands, basis 50 yuan, – 30 yuan; 5-9 price difference – 100 yuan, – 15 yuan.

Industrial chain: in recent years, the European and American ethylene market is generally in a downward trend. The overall ethylene market demand is poor, and the market continues to decline. The industry pays more attention to the supply and demand after the festival. In terms of calcium carbide, the capital return of each factory is in good condition, the equipment maintenance is completed, the production capacity is increased, and the overall operation of calcium carbide market is stable.

Industry: according to the price monitoring of the business agency, in the sixth week of 2020 (2.10-2.14), there is a total of one kind of commodities in the price up and down list of bulk commodities, among which rubber and plastic rose month on month, and natural rubber (0.08%) rose. There are 10 kinds of commodities falling on a month on month basis, and 2 kinds of commodities falling by more than 5%, accounting for 12.5% of the number of commodities monitored in the sector; the top 3 products falling were pet (- 8.82%), LLDPE (- 5.52%), PP (- 4.81%). This week’s average was – 2.2%.

3、 Future forecast

PVC analysts of the business club believe that: the downstream enterprises return to work slowly, the PVC manufacturers’ operating rate has declined, and the transportation is limited, and it is expected that the PVC market will be weak in the short term.

1、 Price trend

According to the data monitored by the business association, as of February 15, the DMF market in Zhejiang was 5450 yuan / ton, in Guangdong 5700 yuan / ton, in Jiangsu 5375 yuan / ton, in Luxi Chemical Industry 4900 yuan / ton, in Hualu Hengsheng 5300 yuan / ton, in Zhangqiu 5050 yuan / ton, with narrow range of market, unclear restart time of plant, and waiting for the event turning point to be sorted out.

2、 Market analysis

Products: the domestic DMF market continues to run in the range of consolidation. Due to the continuous impact of the incident, at present, the resumption of downstream factories is still slow, and the logistics and transportation control in East China and South China are relatively strict, which makes it difficult for DMF factories to increase the speed of warehouse arrangement. Traders have a short mind, few new orders are heard in the market, and the overall wait-and-see mood remains unchanged. DMF’s cost pressure is temporarily weak. The factory continues to control the volume and sort out, and sporadically delivers early orders. Logistics factors remain.

Industrial chain: after the festival, the upstream methanol enterprises were slow to return to work. Although the start-up of domestic methanol enterprises has decreased, the methanol market is still in a pattern of supply exceeding demand. Especially in the northwest region where methanol needs to be exported in large quantities, the factory inventory has increased gradually, and the sales pressure has become prominent. This week, the price in Inner Mongolia fell to 1400-1530 yuan / ton, some of which fell by 250 yuan / ton.

Industry: on February 14, the chemical industry index was 720, up 1 point from yesterday, down 29.13% from 1016 (2012-03-13), and up 20.00% from 600, the lowest point on January 31, 2016. (Note: cycle refers to 2011-12-01 to now)

4、 Future forecast

DMF analysts believe that: the domestic DMF market volatility is limited, continue to focus on downstream rework.

1、 Price trend

Recently, the market of butadiene in China has dropped sharply. As of February 13, the price of butadiene was 6848 yuan / ton, down 15.57% month on month and 30.94% year-on-year, according to the monitoring of business club.

2、 Analysis of influencing factors

Products: the domestic butadiene market continued to decline. Fushun Petrochemical’s goods were exported, and the price was reduced to 5500 yuan / ton. Although the spot transaction improved, there was no sign of centralized resumption in the downstream latex industry, and the market supply and demand continued to be weak. Merchants often refer to the transaction price of Fushun for offer. The delivery price in Shandong Province is 6200 yuan / ton, and the price in East China is 7000 yuan / ton. It is hard to have a good support for short-term supply and demand fundamentals, and merchants are still short-term.

In terms of market, the butadiene market in Shandong Province is mainly on the lookout. Some export manufacturers have no latest price for the moment. Downstream enquiries are cautious. Middlemen send offers for reference of about 6200 yuan / ton. Some businesses still wait for the latest price guidance of manufacturers. The butadiene market in East China is still expected to be weak, and some manufacturers and tank farms in the region have abundant supply, but the downstream inquiry has not been followed up obviously. The expectation of the merchants is short, and the intention of active offer is not high. The sporadic delivery price continues to be around 7000 yuan / ton, and the slightly lower price is also heard.

In terms of enterprises, the unit load of some enterprises has been reduced, and Sinopec’s butadiene price in East China has been reduced by 1000 yuan / ton to 7000 yuan / ton in total; the butadiene price of Liaotong chemical is 6610 yuan / ton, down 700 yuan / ton, and the weekly sales volume is 338 tons; the 390 tons of Fushun Petrochemical are exported within the week, and the turnover area is 5520-5600 yuan / ton; the load of 70000 tons / year butadiene unit in Jiutai, Inner Mongolia has been slightly reduced, but there is no clear report yet The price and delivery are negotiated in a single way; Dalian Hengli 140000 T / a butadiene plant maintains a load operation of 40-50% in a week, and a small number of superior products are exported; Zhejiang Petrochemical 200000 t / a butadiene plant has a load of about 50-60% in a week, and some qualified products flow into the downstream factories in the region.

Industrial chain: styrene butadiene rubber: domestic mainstream styrene butadiene market offer slightly adjusted. The main price of Qilu 1502e in North China is around 10300 yuan / ton, and that of Qilu 1502e in East China is around 10600 yuan / ton.

Cis-1,4-polybutadiene rubber: Sinopec North China cis-1,4-polybutadiene rubber factory price in 10400 yuan / ton; North China Qilu cis-1,4-polybutadiene rubber mainstream market price in 10300 yuan / ton.

3、 Future forecast

In the short term, it is difficult for the downstream latex industry of butadiene to return to work intensively. In addition, some manufacturers of synthetic rubber have reduced their equipment load, and the basic contradiction between supply and demand of butadiene still exists. Although sporadic low-cost goods have stimulated the turnover to improve, under the influence of abundant supply, the butadiene analysts of the business agency predict that the weak situation of domestic butadiene market is difficult to change in the near future, and it is suggested to pay attention to the latest price guidance of the supplier.

On February 11, the PX commodity index was 50.40, the same as yesterday, down 50.78% from 102.40 (2013-02-28), the highest point in the cycle, and up 10.65% from 45.55, the lowest point on February 15, 2016. (Note: cycle refers to 2013-02-01 to now).

According to statistics, the market price trend of p-xylene in China is temporarily stable, the operation of new 600000 ton plant in Hongrun is stable, the operation of petrochemical plant in Pengzhou is stable, 50% of petrochemical plant in Urumqi is started, one line of aromatics plant in Fuhai Chuang is started, CNOOC Huizhou refining and chemical plant is overhauled, the PX plant in Hengli Petrochemical is put into operation, other units are temporarily stable, and the operation rate of domestic p-xylene plant is stable About 70%, the domestic market supply of p-xylene is normal, but the recent crude oil price trend is volatile, and the market price trend of p-xylene is stable. The operating rate of PX plant in Asia is about 80%. On February 10, the closing price of p-xylene market in Asia dropped by 6 US dollars / ton, and the closing price was 712-714 US dollars / ton FOB South Korea and 732-734 US dollars / ton CFR China. More than 40% of domestic PX needs to be imported. The decline of external price has a certain negative impact on the domestic market price of p-xylene, and the market price trend of p-xylene is temporarily stable.

WTI crude oil futures market in the United States recently fell to US $49.57/barrel, or US $0.56, while Brent crude oil futures fell to US $53.27/barrel, or US $0.35. The oil market has not escaped this round of Black Swan – after another round of big fall, crude oil inevitably entered the bear market. The pattern of oversupply originally depressed the price of crude oil. However, the sudden outbreak has further increased the concern of global energy demand. Now, Saudi Arabia has been unable to sit still. The news that OPEC is planning to cut production is frequently heard in the market. However, the oil price is still in a weak position. Whether this measure of reducing production can work? It may also be said that the decline of crude oil price is bad for domestic chemical prices, and the trend of domestic p-xylene price is temporarily stable.

In terms of downstream PTA, the recent price has dropped slightly to the level of 4400-4500 yuan / ton. At present, the PTA processing fee has fallen to about 50 yuan / ton, and the processing fee before the festival is nearly 600 yuan / ton. The new production capacity before the festival is put in, and the current operating rate remains high. During the Spring Festival, the accumulated inventory is obvious, the social inventory is nearly 30% higher than that before the festival, and the light transaction price in the spot market has fallen. Affected by the epidemic situation, the downstream resumption of work is now delayed In the future, the downstream textile will face the situation of delayed production or even contract breaking due to the inventory accumulation due to the restricted logistics and the unsmooth transportation of the industrial chain. The downstream demand of PTA will worsen, the market price of PTA will fall, and the price trend of p-xylene will be temporarily stable.

In the near future, the crude oil price remains low, which has a certain negative impact on the xylene market. In addition, the downstream demand of the terminal has not improved significantly. The business analysts believe that the PX market price may remain low.