1、 Price trend

According to the bulk list data of business society, mixed xylene fell continuously this week, and the price fell broadly. On November 12, the price of mixed xylene was 6220 yuan / ton; On Friday (November 19), the price was 6040 yuan / ton, down 2.89% from last week; Compared with the same period last year, it increased by 67.31%.

2、 Analysis and review

This week, the international oil price fell broadly and the cost support weakened, which dragged down the mixed xylene market mentality. The downstream demand is weak and the market negotiation atmosphere is light. Sinopec lowered its price and the market followed suit. Demand in North China was ok, with a limited decline during the week. The downstream demand in East China and South China is short, and the price follows the main enterprises to reduce.

In terms of the external market, the external market mixed xylene fell this week. On Friday (November 19), the price of mixed xylene imported from South Korea was 780.5 US dollars / ton, down 10 US dollars / ton or 1.27% month on week compared with November 12; The reference price of domestic imported mixed xylene was US $809 / T, down US $8 / T or 0.98% month on month on November 12.

In terms of crude oil, crude oil fluctuated and fell this week, and the price fell broadly. The epidemic situation in Europe worsens again, and the demand for crude oil may be frustrated; The United States may release strategic oil reserves, and the number of active oil rigs in the United States continues to increase this week. The possibility of an increase in crude oil supply also depresses oil prices. Month on month (MOM) on November 12, Brent fell 3.28 USD / barrel, or 3.99%; WTI fell $4.69/barrel, or 5.81%.

Downstream, the trend of PX market was temporarily stable. As of the 19th, the ex factory price of domestic p-xylene was 7300 yuan / ton, which was the same as that at the beginning of the week, with a year-on-year increase of 69.77%. As of November 19, the closing prices in Asia were USD 896-898 / T FOB Korea and USD 914-916 / T CFR China.

In terms of ox market, the ox price in East China this week was stable compared with last week. On Friday (November 19), the ox price in East China was 7200 yuan / ton, up 53.19% compared with the same period last year.

In terms of gasoline, gasoline in Shandong fell first and then rose this week. On November 19, the price was 8071 yuan / ton, up 3.33% from last week and 54.69% from the same period last year.

3、 Future forecast

In terms of crude oil, the recent high gasoline price in the United States may still release strategic reserves. OPEC + still maintained the original production increase plan to support oil prices. Continue to pay attention to the impact of the global epidemic, OPEC + decisions on crude oil production, the inventory dynamics of crude oil and refined oil in the United States, and the global economic situation on crude oil prices.

The recent trend of crude oil fluctuated and fell, and the market guidelines for mixed xylene were short. Related bulk commodities are generally weak, and the downstream continues to be weak. However, the arrival cargo increases and the supply increases. The trend of mixed xylene in the short term is under pressure, and it is still possible to fall. Pay attention to mixed xylene port and plant dynamics, downstream market and plant dynamics, as well as the impact of crude oil, external market and other trends on mixed xylene prices.