Price trends:

According to statistics, this week’s domestic ex-factory price of p-xylene showed a temporary stable trend, with an average weekend price of 7,000 yuan/ton, which was temporarily stable compared with the price of 7,000 yuan/ton at the beginning of the week, down 15.66% year-on-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 Unit runs steadily, Urumqi Petrochemical Unit starts about 50%, Hengli Petrochemical Unit runs normally, domestic p-xylene supply is normal, recent international crude oil prices rise, domestic market price trend of p-xylene is temporarily stable. The opening rate of p-xylene 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 weekend, the closing price of P-xylene market in Asia is 817-819 US dollars per ton FOB Korea and 836-838 US dollars per ton CFR China. More than 50% of domestic products need to be imported. The closing price of PX external market is 817-819 US dollars per ton FOB Korea and 838 dollars per ton CFR China. The shock has brought some support to the domestic market, and the price trend of domestic PX market is temporarily stable.

Industry Chain: Domestic crude oil price closed down sharply this week. As of the 1st day, the price of WTI crude oil futures market fell sharply to 53.95 U.S. dollars/barrel, Brent crude oil futures price fell sharply to 60.50 U.S. dollars/barrel. This week, crude oil closing price declined sharply, losing some cost support for downstream petrochemical products. PX Market Price trend is stable for the time being. This week, PTA market prices in the downstream fell by 2.18% this week. By the end of the weekend, East China PTA market talks were around 5400-5500 yuan. Prices in the upstream raw material PX market were stable. This week, PTA plant start-up rate maintained about 96%, downstream polyester plant start-up rate was about 84%, and textile start-up rate in Jiangsu and Zhejiang fell to 62%. Right, downstream PTA and polyester products start-up rate maintained high, PTA price decline has a negative effect on the market price of p-xylene, the market price trend of p-xylene is temporarily stable.

Industry: This week’s textile industry market trend shocks, textile industry startup rate has not changed much, crude oil prices have dropped substantially, raw material PX market trend is stable.

3. Future market forecast:

Chen Ling, an analyst with business association PX, believes that the recent decline in crude oil prices, coupled with lower PTA market prices, has little change in downstream textile industry start-up rate and normal supply of domestic PX market. It is expected that the price of PX market will remain volatile next week.