Domestic price trend:

It can be seen from the trend chart of p-xylene that the price of p-xylene rose this week. By the end of the week, the domestic ex factory price of p-xylene was 6500 yuan / ton, up 1.56% compared with 6400 yuan / ton at the beginning of the week, up 58.54% year on year. The price trend of domestic PX market rose this week.

In recent years, the domestic supply of p-xylene is normal, and the domestic PX operating rate is more than 60%. The 600000 ton unit of Sinopec Hongrun Petrochemical Co., Ltd. operates stably, the Yangzi petrochemical unit operates stably, the Pengzhou petrochemical unit operates stably, the Yangzi Petrochemical PX unit operates normally, the Jinling Petrochemical Unit operates stably, the Qingdao Lidong unit operates at full load, and the Qilu petrochemical unit operates stably, The start-up of Urumqi petrochemical plant is about 50%, and the domestic supply of p-xylene is general. However, some overseas plants are still under maintenance, and the domestic price of p-xylene remains high due to the impact. The recent rise in the international crude oil closing price affected the PX external price trend. As of the 3rd, the closing prices in Asia were US $837-839 / T FOB Korea and US $855-857 / T CFR China. The recent change in the operating rate of PX units in Asia was not big. As a whole, the operating rate of PX units in Asia was less than 60%, the supply of PX goods in Asia was general, and the PX external closing price rose, Domestic market price of p-xylene rose slightly.

The price of crude oil rose sharply this week, and the international oil price continued to rise. The settlement price of the main contract of WTI crude oil futures market in the United States was 68.81 US dollars / barrel, and the settlement price of the main contract of Brent crude oil futures market was 71.31 US dollars / barrel. The main reason is that the organization of Petroleum Exporting Countries and its allies (OPEC +) agreed to increase production, but the speed of resuming production depends on market conditions, Fuel demand is expected to increase during the summer driving season in North America. This week’s sharp rise in crude oil prices is good for domestic petrochemical prices, while the price trend of p-xylene rose slightly due to this impact.

The price trend of PTA Market in the lower reaches rose slightly this week, and the domestic PTA spot market price rose. As of the 4th, the average price of PTA market was 4700-4750 yuan / ton, up 0.85% this week. International crude oil prices rose sharply, and cost support was obvious. The PTA plant has been running stably in the near future, and the supply side has performed normally. This week, the PTA operation rate is about 86.5%. The PTA delivery situation is general, and the on-site delivery situation is general. Polyester production and marketing has little change, the international epidemic has been controlled to a certain extent, but the follow-up orders of the textile industry are weak. The profits of domestic textile industry are concentrated in the spinning process. The lower reaches of the textile industry do not have a high acceptance of the fabric price rise, and the price transmission is not smooth. There is downward pressure on the yarn price, which may further affect the price performance of the raw material end. Recently, the domestic PTA market price rose slightly, the downstream market was general, and the price of p-xylene market rose slightly.

PX analyst Chen Ling believes that there is a certain uncertainty in the current cost side, short-term crude oil prices have a supporting role, coupled with the lower PTA and textile market trend is temporarily stable, it is expected that the market price of p-xylene will be stable in the future.