Price Trend
According to the data of business associations, the domestic isomeric xylene market showed a sharp pullback trend this week, with a weekly decline of about 3.4%, influenced by the oil price pullback.
II. Analytical Review
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1. Products: Influenced by the weak economic indicators in Europe and the United States, the rapid recovery of Saudi crude oil production capacity and the recovery of oil prices, the isomeric xylene market is still showing a trend of recovery this week. At present, the mainstream price in East China is around 6400-6450 yuan/ton. According to the feedback from traders, the trading volume fell slightly from last week, and the port inventory remained low.
2. Industrial chain:
Upstream, crude oil, affected by the rapid recovery of Saudi oil production, this month’s oil price rebound, spot Brent fell 2.98%, Brent futures fell 3.44%, WTI futures fell 0.78%, Dubai futures fell 5.19%.
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Downstream, PX market, domestic PX price trend is stable, short-term PX market prices are expected to maintain a stable trend. PTA market, this week’s price trend is stable, CFR China is about 650 U.S. dollars / ton, affected by the downstream demand is not strong, PTA is expected to maintain a stable and volatile trend in the short term. In the ox market, the external quotation of FOB Rotterdam is about US $845 / ton. Influenced by the rise of upstream mixed xylene and the recovery of downstream phthalic anhydride and plasticizer Market, the opening of o-xylene continued to rise this week, and it is expected that the trend of o-xylene will be stable in the short term.
3. Future Market Forecast
Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the trend of the Middle East situation, the progress of tariff imposition in Sino-US trade negotiations, and the European and American economies are worried about the expected fluctuation of demand for crude oil in the recession prospects. As concerns about recession in Europe and the United States intensify, the toluene market is expected to continue to shake and adjust next Tuesday.
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