PX market price stabilized temporarily this week (9.14-9.18)

According to statistics, the price trend of domestic p-xylene factory was temporarily stable this week, with an average price of 4600 yuan / ton at the weekend, which was temporarily stable compared with the price of 4600 yuan / ton at the beginning of the week, with a year-on-year decrease of 30.3%.


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The domestic PX operating rate is about 60%. The operation of Hongrun 600000 ton new unit is stable, Huizhou refining and chemical plant is stable, fuhaichuang plant is on the first line, Pengzhou petrochemical plant is running stably, Yangzi Petrochemical PX unit is running normally, Jinling Petrochemical plant is running smoothly, Qingdao Lidong unit is operating at full load, Qilu Petrochemical plant is running stably The start-up of Urumqi petrochemical plant is about 50%, and Hainan refining and Chemical Co., Ltd. has started a production line. Hengli petrochemical plant is in normal operation, the domestic p-xylene supply is normal, and the domestic p-xylene market price trend is temporarily stable. This week, the operating rate of PX plant in Asia is about 70%, and the supply of PX goods in Asia is normal. This week, the price trend of PX external market has risen slightly. As of the end of the week, the closing prices of PX market in Asia are 543-545 USD / T FOB Korea and 561-563 USD / T CFR China. This week, the external price of PX has slightly increased. More than 40% of domestic products need to be imported, and PX external price is on the closing price Rise to the domestic market to bring a certain positive support, domestic PX market price trend temporarily stable.


The U.S. WTI crude oil futures market price rose sharply this week. As of the 17th, the settlement price of the main contract in the U.S. WTI crude oil futures market was at $40.97/barrel, and the settlement price of the main contract in the Brent crude oil futures market was at $43.30/barrel. The sharp rise in oil prices was mainly due to the sharp decline in US crude oil and gasoline stocks, and the superposition of Hurricane “Sally” forced a large number of U.S. oil production to be blocked. The rebound of oil price is mainly due to the force majeure of Hurricane “Sally”. At present, the fundamentals are still not optimistic. The number of new cases of the epidemic is still high. In order to stimulate the economy, the relaxation of blockade measures in various countries has brought difficulties to the later stage of epidemic prevention. Moreover, in winter, the possibility of outbreak counterattack is increasing, and the fuel demand will continue to be under pressure in the medium and long term, and the pressure of crude oil price continues to rise The price trend of domestic p-xylene market remained stable for the time being.


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This week, the price trend of downstream PTA market was mainly fluctuating. As of the end of the weekend, the PTA Market in East China had been discussed for 3400-3500 yuan. Recently, the starting load of PTA industry was 87%. The overall high-yield and sales of downstream polyester were difficult to sustain. The production and sales of mainstream large polyester filament factories were 50% – 70%, and the production and sales of some better factories could reach 110%. In terms of inventory, the overall inventory of polyester market is concentrated in 33-43 days, among which POY inventory is up to 11-17 days, FDY inventory is around 22-34 days, and DTY inventory is about 31-43 days. The quotation of the factory is basically stable. At present, some of its own devices are planned to restart, and the downstream polyester production and sales are poor, the market atmosphere is flat, and whether the terminal consumption capacity can continue to improve remains to be observed The price trend of toluene remained stable for the time being.


On the whole, the demand of textile industry has not improved significantly, the order performance is not stable, and the terminal demand is poor. For upstream Px, on-demand procurement is the main factor, and the price trend of PX market is stable.


Chen Ling, PX analyst of business agency, thinks that the recent trend of crude oil price is rising, but the operating rate of downstream textile enterprises is general, PTA market price remains low and volatile, domestic PX market supply is normal, and it is expected that PX market price will maintain about 4600 yuan / ton next week.


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