On February 11, the PX commodity index was 50.40, the same as yesterday, down 50.78% from 102.40 (2013-02-28), the highest point in the cycle, and up 10.65% from 45.55, the lowest point on February 15, 2016. (Note: cycle refers to 2013-02-01 to now).

According to statistics, the market price trend of p-xylene in China is temporarily stable, the operation of new 600000 ton plant in Hongrun is stable, the operation of petrochemical plant in Pengzhou is stable, 50% of petrochemical plant in Urumqi is started, one line of aromatics plant in Fuhai Chuang is started, CNOOC Huizhou refining and chemical plant is overhauled, the PX plant in Hengli Petrochemical is put into operation, other units are temporarily stable, and the operation rate of domestic p-xylene plant is stable About 70%, the domestic market supply of p-xylene is normal, but the recent crude oil price trend is volatile, and the market price trend of p-xylene is stable. The operating rate of PX plant in Asia is about 80%. On February 10, the closing price of p-xylene market in Asia dropped by 6 US dollars / ton, and the closing price was 712-714 US dollars / ton FOB South Korea and 732-734 US dollars / ton CFR China. More than 40% of domestic PX needs to be imported. The decline of external price has a certain negative impact on the domestic market price of p-xylene, and the market price trend of p-xylene is temporarily stable.

WTI crude oil futures market in the United States recently fell to US $49.57/barrel, or US $0.56, while Brent crude oil futures fell to US $53.27/barrel, or US $0.35. The oil market has not escaped this round of Black Swan – after another round of big fall, crude oil inevitably entered the bear market. The pattern of oversupply originally depressed the price of crude oil. However, the sudden outbreak has further increased the concern of global energy demand. Now, Saudi Arabia has been unable to sit still. The news that OPEC is planning to cut production is frequently heard in the market. However, the oil price is still in a weak position. Whether this measure of reducing production can work? It may also be said that the decline of crude oil price is bad for domestic chemical prices, and the trend of domestic p-xylene price is temporarily stable.

In terms of downstream PTA, the recent price has dropped slightly to the level of 4400-4500 yuan / ton. At present, the PTA processing fee has fallen to about 50 yuan / ton, and the processing fee before the festival is nearly 600 yuan / ton. The new production capacity before the festival is put in, and the current operating rate remains high. During the Spring Festival, the accumulated inventory is obvious, the social inventory is nearly 30% higher than that before the festival, and the light transaction price in the spot market has fallen. Affected by the epidemic situation, the downstream resumption of work is now delayed In the future, the downstream textile will face the situation of delayed production or even contract breaking due to the inventory accumulation due to the restricted logistics and the unsmooth transportation of the industrial chain. The downstream demand of PTA will worsen, the market price of PTA will fall, and the price trend of p-xylene will be temporarily stable.

In the near future, the crude oil price remains low, which has a certain negative impact on the xylene market. In addition, the downstream demand of the terminal has not improved significantly. The business analysts believe that the PX market price may remain low.