1、 Price trend
The domestic xylene market fell slightly in the first half of the week and rebounded slightly in the second half of the week, according to the data from the business club’s bulk list. As of Friday, the domestic average price was about 3550 yuan / ton, down 0.84% month on month.
2、 Analysis and comment
This week, the price of isomeric xylene fell slightly and continuously. Affected by the lower profit margin and lower operating rate of downstream PX manufacturers, the demand for isomeric xylene slowed down, and the logistics was not smooth due to the superimposed flood situation, and the transaction of isomerized xylene was not active. At present, the mainstream price in East China is about 3600 yuan / ton. Due to the demand doubts brought about by the increase of new crown cases and the deepening of international relations confrontation, the market continues to pay attention to the impact of the continued spread of overseas epidemic situation on the demand for crude oil caused by the economic restart, and the possible economic recovery rescue plan launched by Europe and the United States.
Upstream, crude oil, this week’s international oil prices fluctuated higher from Monday to Thursday, fell back on Friday to adjust. At present, the crude oil price is generally in the oscillation range. As of Friday, spot Brent fell $0.815/barrel, or 1.86%, to close at $42.895. The longer the oscillation lasts, the greater the possibility of large fluctuations in the future. Therefore, we must not be paralyzed by the boring market. The future market closely watched the fluctuation and breakthrough of Brent crude oil in the range of 40-44 USD / barrel.
|Gamma-PGA (gamma polyglutamic acid)|
Downstream, PX market, domestic Sinopec’s listed price is about 4800 yuan / ton this week, the latest external price is about 534 US dollars / ton FOB Korea and 552 US dollars / ton CFR China. It is expected that the PX market will maintain a stable trend in the short term. In terms of PTA market, the domestic PTA spot market price is about 3542 yuan / ton, and the external price is about 435 US dollars / ton CFR China. It is expected that PTA price will continue to maintain a stable trend next week. In terms of ox market, Sinopec’s o-benzene quotation is stable, with the price of 4400 yuan / ton. The external price of o-benzene is about 510 US dollars / ton FOB Korea and 541 US dollars / ton CFR China. It is expected that the price of o-benzene will maintain a stable trend next week.
3、 Future forecast
Xylene analysts of the chemical branch of business society believe: in the short term, OPEC + production reduction, total number of oil drilling in the United States and EIA, API inventory data in the short term. In the medium term, on the demand side, the economic and trade situation in Europe and the United States, the geographical situation between China and the United States, and the continuous deterioration of the global second epidemic situation have an impact on the demand for crude oil for economic restart, the progress of industrial chain recovery, and the impact of poor logistics caused by the flood situation. Next week, we will focus on the impact of the continued spread of the overseas epidemic on the demand for crude oil, and the possible economic recovery rescue plans launched by Europe and the United States. On the whole, it is expected that xylene prices in the domestic market will continue to fluctuate slightly next week.