Price trends:

According to statistics, this week’s domestic ex-factory price of p-xylene is stable, with an average weekend price of 7,300 yuan/ton, which is stable compared with the price of 7,300 yuan/ton at the beginning of the week, down 6.41% from the same period last year.

II. Market analysis:

Products: This week, the domestic market price trend of p-xylene is stable, the domestic PX start-up rate maintains more than 70%, Huizhou refining and chemical plant runs steadily, Fuhaichuang plant starts a line, Pengzhou Petrochemical plant runs steadily, Yangtze Petrochemical PX plant runs normally, Jinling Petrochemical plant runs smoothly, Qingdao Lidong plant runs at full load, Qi Luzhou Petrochemical Plant runs steadily, Urumqi Petrochemical Plant starts about 50%, Hengli Petrochemical Plant runs normally, domestic p-xylene supply is normal, recent international crude oil price declines, domestic p-xylene market price trend is temporarily stable. The opening rate of paraxylene plant in Asia is more than 70% this week. The supply of PX in Asia is normal. The price of PX external market fluctuates this week. By the end of the week, the closing price of paraxylene in Asia rose by 7 US dollars/ton. The closing price is 795-797 US dollars/ton FOB in Korea and 814-816 US dollars/ton CFR in China. Over 50% of domestic products need it. To import, the closing price of PX external market remains low, while the price trend of domestic PX market is temporarily stable.

Industry Chain: Domestic crude oil price closed higher this week. As of 20 days, the US WTI crude oil futures market price in July was 56.65 US dollars/barrel, Brent crude oil futures price in August was 64.45 US dollars/barrel. The price of crude oil closed higher, which has a certain cost support role for downstream petrochemical products. The price trend of PX market is temporarily stable. This week, PTA market prices in the downstream rose by 6.25% this week. By the end of the weekend, East China PTA market talks were around 5900-6000 yuan. Prices in the upstream raw material PX market were stable. This week, PTA plant start-up rate maintained about 90%, downstream polyester plant start-up rate was about 88%, and textile start-up rate in Jiangsu and Zhejiang regions maintained about 78%. The downstream PTA and polyester products start-up rate maintained high, PTA price rise has a certain positive effect on the market price of p-xylene, and the market price trend of p-xylene is temporarily stable.

Industry: This week’s textile industry market trend shocks, textile industry start-up rate remains high, crude oil prices remain shocks, raw material PX market trend is stable.

3. Future market forecast:

Chen Ling, an analyst with business association PX, believes that the recent rise in crude oil prices, coupled with the sharp rise in PTA market prices, has little change in downstream textile industry startup rate and normal supply of domestic PX market. It is expected that the price of PX market will rise slightly next week.