Domestic price trend:

From the trend chart, it can be seen that the price trend of para xylene in February has declined. As of the end of the month, the domestic ex factory price of para xylene was 8600 yuan/ton, a decrease of 0.99% from the initial price of 8700 yuan/ton, and a year-on-year increase of 1.18%.

The domestic supply of xylene is relatively normal, with a domestic PX operating rate of over 80%. However, some units are still undergoing maintenance, and spot supply is normal. In February, the international crude oil price range fluctuated, and PX external prices did not change much. As of the 28th, the closing prices in Asia were 1013-1015 yuan/ton FOB South Korea and 1038-1040 US dollars/ton CFR China. Recently, the operating rate of PX plants in Asia has remained high. Overall, the operating rate of xylene plants in the Asian region is nearly 80%. The supply of PX goods in the Asian region is normal, and the domestic xylene market prices have slightly decreased.

In February, the international crude oil price range fluctuated, and overall, crude oil prices slightly increased. As of the 28th, the settlement price of the US WTI crude oil futures main contract was $78.54 per barrel, and the settlement price of Brent crude oil futures main contract was $82.15 per barrel. The trend of the crude oil market in February slightly increased. On the one hand, geopolitical risk factors have become the main driving force behind the rise of crude oil, and the geopolitical situation has heated up, further pushing up the risk premium of crude oil. On the other hand, the expected reduction in production by oil producing countries provides strong support for international oil prices. However, the significant increase in US crude oil inventories has limited the increase in crude oil prices. The increase in crude oil prices in February was not significant, and the decline in domestic xylene market prices was limited.

The domestic PTA spot market has slightly declined, with an average price of 5951 yuan/ton in the East China market as of the end of the month, a decrease of 0.72% from the price of 5994 yuan/ton at the beginning of the month. From the recent changes in PTA’s own equipment, the industry’s operating rate remains around 82.5%, but there is still pressure from sufficient supply of goods. Downstream polyester production load is 80%, and the polyester filament market is cautious and cautious, with terminal orders not yet initiated. The comprehensive operating rate of Jiangsu and Zhejiang weaving continues to be at a low level of around 20%, and downstream demand for terminals has not improved. As a result, the PX market trend has declined.

Chen Ling, an analyst at Business Society PX, believes that there is not much change in the domestic PX supply. The upstream crude oil market is a long short game, and overall, crude oil prices have slightly increased. The downstream PTA plant operation has not changed much, but with the gradual restart of the textile industry, the downstream polyester operation load has increased, and end demand continues to start. It is expected that the market price of xylene will rise in the later stage.