Domestic price trend:

From the trend chart of p-xylene, it can be seen that the price of p-xylene remained stable in April. By the end of the month, the domestic ex factory price of p-xylene was 6400 yuan / ton, which was the same as that at the beginning of the month. The price trend of domestic PX market was stable in April.

In April, the domestic supply of p-xylene was normal, and the domestic PX operating rate was more than 60%. The 600000 ton unit of Sinopec Hongrun Petrochemical Co., Ltd. was in stable operation, the Yangzi Petrochemical Unit was in stable operation, the Pengzhou petrochemical unit was in stable operation, the Yangzi Petrochemical PX unit was in normal operation, the Jinling Petrochemical Unit was in stable operation, the Qingdao Lidong unit was in full load operation, and the Qilu Petrochemical Unit was in stable operation, The start-up of Urumqi petrochemical plant is about 50%. The domestic supply of p-xylene is general, but there are many overhauls of overseas plants. The domestic price of p-xylene is affected and the trend remains high. Recently, the international crude oil price is above US $60 / barrel, and the PX external market price is rising slightly. As of the 28th, the closing prices in Asia are US $856-858 / T FOB Korea and US $874-876 / T CFR China. Recently, the operation rate of PX unit in Asia is normal. As a whole, the operation rate of p-toluene unit in Asia is less than 60%, and the supply of PX in Asia is general, PX closing price rose slightly, affected by the external price, the domestic market price trend of p-xylene was temporarily stable.

Oil prices rose sharply in April, and the International Energy Agency (IEA) raised its crude oil demand forecast. Then the inventory data of the US Energy Information Agency (EIA) showed that the US crude oil inventory fell for the third consecutive week, boosting people’s optimistic expectations of the recovery of energy demand. As of April 28, the settlement price of the main contract in the US WTI crude oil futures market was at US $63.86/barrel, Brent crude oil futures market settlement price of the main contract at 66.78 U.S. dollars / barrel. International market news will still face some risks. Even if the epidemic situation in Europe and the United States is controlled to a certain extent, the economic growth and blockade will be eased, which is expected to stimulate the recovery of oil demand. However, the epidemic situation in India and Japan, the third largest crude oil consumer, is not optimistic. With the intensification of the blockade, the demand for crude oil in Asia will be affected. If the US and Iran return to the “nuclear agreement”, these capacities will also bring variables to the market. Superimposed on the sustained growth of shale oil in the United States, the increase in supply will still greatly stabilize the favorable oil price of demand growth. The sharp rise of crude oil price in April is good for domestic petrochemical products, and the price trend of p-xylene is temporarily stable.

In April, the price trend of downstream PTA market rose, and the domestic PTA spot market rose. As of the 29th, the average price of PTA market was 4750-4800 yuan / ton, up 8.10% in April. In April, the price of auxiliary material acetic acid reached a record high, resulting in a substantial increase in PTA market cost. Under the low processing fee, PTA plant maintenance reduced production more. As of April 27, the operating rate was around 78%, with a month on month decline of about 4%, and the price continued to fluctuate upward. In terms of demand, gold, silver and four have come to an end, the terminal demand has not exceeded the expected performance, and the follow-up of new orders is insufficient, which restricts the factory’s willingness to purchase raw materials. The operating rate of most textile clusters in Jiangsu and Zhejiang has been callback, and the comprehensive operating rate has dropped from 86% in early April to around 82%. PTA prices rose in April, but the overall demand of downstream is poor, and the price trend of p-xylene market is temporarily stable.

Chen Ling, PX analyst of business society, believes that there is a certain risk of decline in the current cost side, and the short-term crude oil price will remain high and volatile. However, PTA will continue to go to the warehouse in the downstream in May. However, due to the reduction of maintenance and the planned production of 3.3 million tons of Yisheng new materials, the speed of going to the warehouse will probably slow down, and the textile industry will enter the off-season of sales, It is expected that the market price trend of p-xylene will remain stable in the future.