According to statistics, this week’s domestic ex-factory price of p-xylene is stable, with an average weekend price of 6,600 yuan/ton, which is stable compared with the price of 6,600 yuan/ton at the beginning of the week, down 37.14% from the same period last year.
II. Market analysis:
Products: The domestic market price trend of p-xylene is temporarily stable this week. The domestic PX start-up rate maintains more than 70%. Hongrun 600,000 tons of new plant runs steadily. Huizhou refining and chemical plant runs steadily. Fuhai Chuang plant runs steadily. Pengzhou petrochemical plant runs steadily. Yangtze petrochemical PX plant runs normally. Jinling petrochemical plant runs steadily. Qingdao Lidong unit operates at full load, Qilu petrochemical unit operates stably, Urumqi petrochemical unit starts at about 50%, Hengli petrochemical unit operates normally, domestic p-xylene supply is normal, and 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, and the supply of PX in Asia is normal. The price of PX external market fluctuates sharply this week. By the end of the weekend, the closing price of P-xylene market in Asia is 790-792 US dollars per ton FOB Korea and 809-811 US dollars per ton CFR China. Influenced by international crude oil prices, the price of PX external market rose first this week. Later, overall, the price of external market is still rising. More than 50% of domestic products need to be imported. The rising price of PX external market has a positive impact on the domestic market. The price trend of domestic PX market is temporarily stable.
Industry Chain: Domestic crude oil closing price fluctuated sharply this week. As of 19 days, the price of WTI crude oil futures market in the United States was $58.13 per barrel, and Brent crude oil futures price was $64.40 per barrel. Overall, crude oil closing price rose this week, which has a good support for the price of downstream petrochemical products, and the price trend of PX market is temporarily stable. The price trend of downstream PTA market declined this week. As of the end of the weekend, the price trend of upstream raw material PX market was temporarily stable near 5100-5200 yuan self-lifting. Recent PTA start-up load declined to 93.7%. The supply side of a number of equipment overhaul was short of the PX market, the terminal demand changed slightly, and the polyester start-up remained stable. The downstream polyester start-up load is around 88%, and the start-up rate of Jiangsu and Zhejiang looms remains at 78.5%. The profit of terminal textile texturing enterprises is not optimistic. The comprehensive starting rate of looms in Jiangsu and Zhejiang is around 78%, and the purchasing mood is general. The prices of Main polyester factories in Jiangsu and Zhejiang are stable, the terminal demand has not improved significantly, and the price trend of p-xylene market is stable.
Industry: This week’s textile industry trend remained volatile, textile industry start-up rate changed little, crude oil prices rose slightly, raw material PX market trend was stable.
3. Future market forecast:
Chen Ling, an analyst with business association PX, believes that crude oil prices have maintained between $55 and $60 per barrel in the near future, coupled with a slight decline in PTA market prices, a high start-up rate in the downstream textile industry, and normal supply in the domestic PX market, which is expected to remain volatile next week.