Domestic price trend:

According to statistics, in July, the domestic price of p-xylene was stable. At the beginning of the month, the domestic price was 4800 yuan / ton, and at the end of the month, the domestic PX market price was 4800 yuan / ton. The price trend was stable, with a year-on-year decline of 31.43%. The external price fluctuation was the main factor for the domestic PX market, and the external price fluctuation had a certain guiding effect on the domestic price.

In recent years, the domestic market price trend of p-xylene is temporarily stable. The domestic PX operating rate is about 60%. Sinochem Hongrun Petrochemical Co., Ltd. has put into operation a 600000 ton new unit, Yangzi Petrochemical plant has been running stably, fuhaichuang plant has been operating in one line, Pengzhou petrochemical plant has been running stably, Yangzi Petrochemical plant has been operating normally, Jinling Petrochemical plant has been running smoothly, Qingdao Lidong unit has been operating at full load, Qilu Petrochemical Company has been operating steadily The operation of the unit is stable. The start-up of Urumqi petrochemical plant is about 50%. The domestic supply of p-xylene is normal. Affected by crude oil price fluctuation, the domestic PX market price trend is stable. The international crude oil price fluctuated mainly in July, and the external price of PX rose slightly. As of the 30th, the closing price in Asia was 525-527 US dollars / ton FOB Korea and 543-545 US dollars / ton CFR China. Recently, the operation rate of PX units in Asia was about 60%. The supply of PX goods in Asia was normal. The closing price of PX increased slightly in July The price trend of p-xylene market is stable.

With the gradual recovery of the economy and the recovery of crude oil demand, the closing price of the international crude oil price in July remained around $40 / barrel. As of the 30th, the settlement price of the main contract in the WTI crude oil futures market in the United States was at $39.92/barrel, and the settlement price of the main contract in the Brent crude oil futures market was at $43.25/barrel Although the United States and Europe have recently introduced economic stimulus policies, most of them are monetary policies. Due to the particularity of the epidemic situation, it is difficult to solve the problem of striking demand from the perspective of increasing money supply. At present, the rebalancing of market supply and demand is mainly due to the efforts of oil producing countries to limit production. However, according to the previous agreement reached by OPEC +, the record production reduction will end in July. If OPEC + reduces the share of production reduction, it may further break the balance of the current oil market and increase the pressure on demand. Crude oil prices face the risk of decline, and the market price of p-xylene may drop accordingly.

In July, the price trend of downstream PTA market declined slightly, while the domestic PTA spot market market declined. As of the end of the month, the average price of PTA market was 3570.44 yuan / ton, 1.04% lower than that at the beginning of the month, and 36.16% lower than that at the beginning of the month. In July, the domestic PTA market was weak, new units were put into operation, terminal demand was weak, supply increased, inventory was high, fundamentals were under pressure, and the price fluctuated downward. At the end of the month, the cost side support and terminal demand were on bargain hunting, and the tail showed a slight recovery. Affected by the price decline of downstream PTA market, the domestic p-xylene market price trend was temporarily stable.

Chen Ling, an analyst at Px, a business agency, thinks that the crude oil price has the risk of falling in the near future. In addition, the domestic and foreign trade of the terminal has been recovering slowly, and the order performance is unstable. At present, the raw material procurement is mainly required. If the follow-up orders cannot be followed up in time, the market price of p-xylene in August is expected to decrease slightly.