On May 16, 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 16th, 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%. The market price of p-xylene in Asia rose by 6 US dollars/ton on May 15. The closing price is 851-853 US dollars/ton FOB in Korea and 870-872 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. The price trend of p-xylene in the market is temporarily stable.
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On May 15, the price of WTI crude oil in June rose to $62.02 per barrel, an increase of $0.24. The price of Brent crude oil in July rose to $71.77 per barrel, an increase of $0.53. The rising trend of crude oil price has a cost supporting effect on the price of downstream petrochemical products. The price trend of paraxylene market is temporarily stable. Recently, the textile industry has been temporarily stable, PTA prices declined sharply on the 16th day. The average price of East China is raised near 6250-6350 yuan/ton. As of the 15th day, the domestic PTA start-up rate is about 80%, the polyester industry start-up rate is about 90%, and the downstream production and sales rate remains high. However, PTA market prices have not changed much, and the price of PX market is expected to remain volatile in the later period.
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