Price Trend
According to the data from the business associations’list, the overall domestic price of xylene remained around 5762 yuan/ton this week, with no obvious fluctuation.
II. Analytical Review
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1. Upstream: For international crude oil, this week’s overall high oil price shocks, the average value continues to rise, oil prices are rising steadily, spot Brent 70.87-71.185 US dollars per barrel. The crude oil market remained at a high level and the xylene market was also at a high standstill.
2. The reference price of FOB Korean xylene is also stable, ranging from $721 to $726 per ton. This week, Sinopec’s Xylene listing price remained stable and unchanged.
3. Downstream: Xylene port stocks rose, East China stocks in about 128,000 tons. The supply side of the market remained stable, while the downstream demand was not good, so the volume was limited and the market trend of xylene was deadlocked.
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3. Future Market Forecast
The Xylene Analyst of Business Society Chemical Branch thinks that in the near future, the Xylene plant of large factories has entered the overhaul period one after another, the output has decreased slightly, the international crude oil level has shocked, and the overall situation is relatively ideal; the Xylene market is deadlocked, although market participants have limited confidence in the future market, they do not look short, and it is expected that the price of Xylene will remain stable in the near future.
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