According to the data monitoring of business news agency, affected by the rise of crude oil, the quotation of o-benzene jumped three times after the festival, the external price rose, and the domestic o-benzene market rose. As of February 26, Sinopec’s price of o-xylene was 6500.00 yuan / ton, up 1500 yuan / ton or 30.00% from 5000 yuan / ton before the festival (February 10).
Crude oil prices soared
It can be seen from the crude oil price trend chart that the crude oil price of WTI rose sharply in February, up by 21.5%, which led to the price rise of downstream industry chain. The market of o-benzene industry chain is rising, and the power of o-benzene rising is greater.
Mixed xylene market trend
It can be seen from the price trend chart of mixed xylene that the price of mixed xylene rose sharply in February, with an increase of 26%; after the festival, the price of mixed xylene rose sharply, with an increase of 17%. The price of mixed xylene increased, the cost of o-xylene increased, the pressure of o-xylene increased, and the support of o-xylene increased.
Bai Jiaxin, an o-xylene data analyst of business society, believes that the soaring crude oil market in February has stimulated the price of downstream industry chain to rise sharply, the price of mixed xylene has followed the rise, the cost of o-xylene has remained high, and the power of o-xylene rise is sufficient. With the continuous promotion of global vaccine, the expected impact of the epidemic is weakened, clearing the obstacles for rapid economic recovery; under the stimulus policy of economic recovery and loose monetary policy of the United States, the market inflation expectation is increased, the commodity expectation enters the rising cycle, and the crude oil bears the brunt in the macroeconomic environment and rises sharply; the rise of crude oil price drives the price of downstream mixed xylene to rise sharply, and the price of o-xylene to rise sharply The cost of toluene rose sharply, and the price of o-benzene jumped three times after the festival. In the future, the crude oil market is strong, the rising power of crude oil price still exists, the cost of o-xylene remains high, and the pressure of o-xylene decline is weak. It is expected that the price of o-xylene will be strong and stable in the future.