Domestic price trend:

It can be seen from the p-xylene trend chart that the price trend of p-xylene in November was temporarily stable. By the end of the month, the domestic ex factory price of p-xylene was 7300 yuan / ton, which was the same as that at the beginning of the month, with a year-on-year increase of 69.77%. The price trend of domestic PX market was stable in November.

In November, the domestic p-xylene supply was normal, and the domestic PX operating rate was more than 60%. The 600000 ton unit of Sinochem Hongrun petrochemical, Yangzi Petrochemical, Pengzhou petrochemical, Yangzi Petrochemical, Jinling Petrochemical, Qingdao Lidong and Qilu Petrochemical operated stably, The start-up of Urumqi petrochemical plant is about 50%, and the domestic p-xylene supply is general, but the start-up of overseas plants is general, and the price trend of domestic p-xylene is temporarily stable. In November, the trend of international crude oil price fell, and the trend of PX external price fell. As of the 29th, the closing prices in Asia were US $831-833 / T FOB Korea and US $849-851 / T CFR China. Recently, the operating rate of PX units in Asia has been normal. On the whole, the operating rate of p-xylene units in Asia is less than 60%. The supply of PX goods in Asia is general, the closing price of PX has fallen sharply, and the domestic market price of p-xylene has been temporarily stable.

International crude oil prices fell sharply in November, with a decline of 16.30%. The decline in oil prices was mainly due to the following factors: first, since the middle of the year, the outbreak of the European epidemic has triggered investors’ concerns about the demand outlook, and oil prices began to enter the downward channel. Second, in order to deal with domestic inflation, the United States has been committed to suppressing the decline of oil prices. On the 19th, it announced that it would unite with multinational governments to release strategic oil reserves. Affected by supply expectations, oil prices are falling sharply. Finally, on the 26th, a new crown variant strain was found, causing market panic, market concerns about the recovery of future demand, a huge earthquake in the capital market, and oil prices fell sharply with the global stock market. As of November 29, the settlement price of the main contract of WTI crude oil futures in the United States was US $69.95/barrel, and the settlement price of the main contract of Brent crude oil futures was US $73.22/barrel. On the whole, the international crude oil price fell sharply in November, and the price trend of p-xylene was temporarily stable, but there was a downward trend.

In November, the downstream PTA market price fell sharply. As of No. 30, the average PTA market price was 4400-4500 yuan / ton, down 13.21% in November. Honggang petrochemical and Yadong petrochemical units are about to be overhauled, and the start-up of domestic PTA units will decline, but it will remain at the high level of 81.71%. However, the current market supply is still sufficient. Most of the offers from downstream polyester factories are hard demand, and the overall trading atmosphere is light. The downstream polyester plant reduced production, the demand side was expected to decline, and the supply showed a slight accumulation of stocks. The short-term cost support collapsed, superimposed with the expectation of production reduction of many mainstream polyester factories, coupled with the weak operation of the downstream pure polyester yarn market, the wait-and-see atmosphere of consumer terminals was strong, the transaction was cold, the local power restriction policy was basically ended, and the downstream textile manufacturers were mainly just in need of procurement and lack of large single support. In November and December, most yarn factories had to pay production costs, and the capital flow was generally tight. They reduced the procurement of polyester staple fiber and other raw materials one after another. The downstream market was poor, and the market price trend of p-xylene was temporarily stable.

Chen Ling, PX analyst of business society, believes that there is a certain negative impact on the current crude oil cost. In addition, the performance of orders in the terminal market is still weak, customers’ intention to take goods is not high, and the overall market trading atmosphere is light. At the end of this month, some weaving factories plan to continue to shut down and reduce the burden. The pressure on the cost side increases, the mentality of the terminal weaving factory tends to be cautious, and the bad news of the upstream and downstream superimposes. It is expected that the market price trend of p-xylene will decline in the later stage.