On May 13, the PX Commodity Index was 60.00, unchanged from yesterday, down 41.41% from its peak of 102.40 points in the cycle (2013-02-28), and up 31.72% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).
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On the 14th, the domestic market price trend of p-xylene was temporarily stable. Pengzhou Petrochemical Plant operated steadily in the field. Urumqi Petrochemical Plant started 50% of its operation. Fuhaichuang Aromatic Hydrocarbon Plant started a line. CNOOC Huizhou Refinery and Chemical Plant overhauled. Hengli Petrochemical PX Plant was put into operation. Other units operated steadily temporarily. Due to the normal supply of p-xylene in the domestic market, the market of p-xylene was under normal operation. Price trend is stable for the time being. The operating rate of PX plant in Asia is about 80%. On May 13, the market price of p-xylene in Asia dropped by 14 US dollars/ton. The closing price is 874-876 US dollars/ton FOB in Korea and 893-895 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The low price of foreign units has a negative impact on the domestic market price of p-xylene, and the price trend of p-xylene in the market is temporarily stable.
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On May 13, the price of WTI crude oil in June fell to $61.04 per barrel, a decline of $0.62. Brent crude oil in July fell to $70.23 per barrel, a decline of $0.39. The price of crude oil declined, losing some cost support to the price of downstream petrochemical products, and the price of paraxylene market stabilized temporarily. Recently, the textile industry has been stable for a while, PTA prices fluctuated on the 14th day. The average offer price in East China was raised near 6650-6750 yuan/ton. As of the 13th day, the domestic PTA start-up rate was about 80%, the polyester industry start-up rate was about 90%, and the downstream production and sales rate maintained a high level. However, PTA Market prices did not change much. It is expected that the price of PX market will remain volatile in the later period.
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