1、 Price trend
|Gamma Polyglutamic Acid|
The domestic xylene market fell slightly in the first half of this week, and stabilized in the second half. As of Friday, the domestic average price was about 3560 yuan / ton, down 1.93% month on month.
2、 Analysis and comment
Xylene prices fell slightly this week. Port inventory stopped falling and rebounded. As of the end of this week, the East China region was about 127000 tons, with an increase of 17000 tons compared with last week. The pressure to go to the warehouse has rebounded, and the price is slightly weak in the near future. Market oversupply, downstream Px, gasoline blending demand improved, isomer xylene demand slightly improved, market transactions improved, overall supply and demand situation tended to be stable. At present, the mainstream price in East China is about 3560 yuan / ton. The future market continued to pay attention to the fluctuation of the US dollar index and the stock market, the impact of the geopolitical situation in the Middle East on crude oil supply, the development of new crown vaccine, the impact of economic restart and recovery on crude oil demand, the global economic recovery and the progress of the European and American economic recovery rescue plan.
Upstream, in terms of crude oil, Saudi Arabia at the OPEC + meeting called for a “cheating country” to cut production, boosting market sentiment, making oil prices rise continuously, leading to a “dramatic reversal” in the crude oil market, the largest weekly increase since June. As of Friday, spot Brent rose $3.445/barrel to close at $42.49/barrel, up 8.82% from last week.
|Gamma Polyglutamic acid food grade|
Downstream, in terms of PX market, the listed price of domestic Sinopec’s enterprises was about 4600 yuan / ton this week, and the latest external price was about 544 US dollars / ton FOB Korea and 562 US dollars / ton CFR China. It is expected that the short-term PX market will usher in an adjustment trend. In terms of PTA market, the market price began to stabilize this week. The domestic PTA spot market price was about 3504 yuan / ton, and the external price was about 443 US dollars / ton CFR China. It is expected that PTA price will stabilize and rebound next week. In terms of ox market, Sinopec’s o-benzene quotation is stable, with the price of 4400 yuan / ton, and the external price of o-benzene is about 540 US dollars / ton FOB Korea and 558 US dollars / ton CFR China. It is expected that the price of o-benzene will stabilize and rebound next week.
3、 Future forecast
Xylene analysts of the chemical branch of the business society think: first, look at the supply cost side, the total number of us oil drilling and EIA, API inventory data, and the implementation of OPEC + production reduction. Second, on the demand side, the impact of the continuous spread of the global second epidemic on the economic restart of crude oil demand, the progress of industrial chain recovery, the geopolitical situation of the Middle East and China and the United States, and the economic and trade situation of Europe and the United States. Third, look at the dollar index and stock market linkage. Next week, we will focus on the impact of US dollar index and stock market volatility on the trend of crude oil. Overall, xylene prices in the domestic market are expected to stabilize next week.