PX market is stable this week (5.18-5.22)

1、 Price trend:


According to statistics, the trend of domestic p-xylene ex factory price this week is temporarily stable. The weekend average price is 4000 yuan / ton, which is the same as the price at the beginning of the week, down 46.67% year on year.



2、 Market analysis:


Products: this week, the domestic market price trend of p-xylene is temporarily stable, the domestic PX operation rate is maintained at more than 70%, the operation of new 600000 ton Hongrun unit is stable, the operation of Huizhou refining and chemical unit is stable, the first line of Fuhai Chuang unit is started, the operation of Pengzhou petrochemical unit is stable, the operation of Yangzi Petrochemical PX unit is normal, the operation of Jinling Petrochemical unit is stable, the operation of Qingdao Lidong unit is full load, Qilu Petrochemical equipment is stable The plant is stable in operation. The Urumqi petrochemical plant starts at about 50%, Hengli petrochemical plant is in normal operation, and the domestic p-xylene supply is normal. Due to the decline of crude oil price, the domestic p-xylene market price trend remains low. This week, the operating rate of PX plant in Asia is more than 70%, and the supply of PX in Asia is normal. This week, the external price trend of PX rises. As of the end of the week, the closing price of PX market in Asia is 486-488 US dollars / ton FOB South Korea and 506-508 US dollars / ton CFR China. Affected by the rising international crude oil price, the external price of PX is higher this week, and more than 40% of domestic products need to be imported. PX The rising closing price of the external market has a certain positive impact on the domestic market, and the price of the domestic PX market remains low.


Industrial chain: the closing price of international crude oil rose this week. As of the 21st, the price of WTI crude oil futures market in the United States rose, and the settlement price of major contracts was $33.92/barrel. Brent crude oil futures market prices rose, the main contract settlement price was $36.06/barrel, the international oil price rose sharply this week. At present, WTI has reached a high since March 10. The main reason is that the reduction of production has suppressed the contradiction between supply and demand in the oil market under the pressure of the epidemic. The reduction of international crude oil production has promoted the price of crude oil to rise sharply. Influenced by the support of good raw materials, the price trend of domestic p-xylene market has been temporarily stable.



The price trend of PTA Market in the lower reaches of this week rose. As of the end of the week, the PTA Market in East China was negotiated to be around 3650-3750 yuan. Recently, the starting load of PTA industry is 87%. The rising crude oil price has driven the price of PTA market to rise. Up to now, PTA inventory has risen to a high near 3.55 million tons. According to the calculation of existing capacity, PTA operating rate is nearly 10% lower than polyester operating rate, so the market can be basically balanced. Compared with 91% operating load of PTA industry, polyester operating rate is obviously insufficient. It is understood that in June, Hainan Yisheng, Xinjiang Zhongtai and Yizheng Chemical fiber had maintenance plans for PTA, but under the condition of high processing cost, the possibility of postponement of maintenance could not be ruled out. In addition, the Hengli 5 × unit is expected to be put into operation in late June, and the short-term PTA accumulation situation is difficult to change. However, the price rise of downstream PTA market has brought some good support to PX market, and the domestic p-xylene price trend is temporarily stable.


Industry: this week, the textile industry improved, coupled with the rise in crude oil prices, the overall market of domestic textile industry rose, and the market price trend of p-xylene was temporarily stable.


3、 Future forecast:


Chen Ling, an analyst at Px, a business agency, believes that in the near future, the trend of crude oil price will rise, and the operating rate of downstream textile enterprises will rise. The supply of domestic PX market is normal. It is expected that PX market price will rise slightly next week.


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