Domestic p-xylene price trend:

It can be seen from the p-xylene trend chart that the market price trend of p-xylene fell this week. As of the weekend, the domestic ex factory price of p-xylene was 9300 yuan / ton, down 2.11% from the price of 9500 yuan / ton at the beginning of the week, up 38.81% year-on-year.

Recently, the domestic p-xylene supply is normal, the domestic PX operating rate is about 70%, the 600000 ton unit of Sinochem Hongrun Petrochemical operates stably, the Yangzi petrochemical unit operates stably, the Pengzhou petrochemical unit operates stably, the Yangzi Petrochemical PX unit operates normally, the Jinling Petrochemical unit operates stably, the Qingdao Lidong unit operates at full load, the Qilu petrochemical unit operates stably, and the Urumqi petrochemical unit starts at about 50%, Domestic p-xylene supply is relatively normal, but some overseas units are still under maintenance. Due to the decline of crude oil price this week, the price trend of domestic p-xylene has declined. Driven by the decline in the closing price of international crude oil, the price trend of PX outside the market fell. As of the 17th, the closing prices in Asia were US $1116-1118 / ton FOB Korea and US $1134-1136 / ton CFR China. Recently, the operating rate of PX units in Asia has been relatively stable. On the whole, the operating rate of p-xylene installation in Asia is more than 60%. The supply of PX goods in Asia is normal, the closing price of PX outside the market fell sharply, and the price trend of domestic p-xylene market fell.

Crude oil prices fell as a whole this week, and international crude oil futures prices rose sharply. The settlement price of the main contract of WTI crude oil futures in the United States was US $102.98/barrel, and the settlement price of the main contract of Brent crude oil futures was US $106.64/barrel. The oil price rebounded sharply after continuous decline. The main reason is that the market focus is back to Russia, and the supply shortage is expected to rise due to the impact of sanctions. Earlier, the International Energy Agency (IEA) said that the sanctions will prevent Russia’s supply of 3 million barrels / day from entering the market from April. In addition, the Federal Reserve’s interest rate hike boots landed, in line with market expectations. Previously, the bearish was exhausted, and the prices of risky assets such as crude oil and stock market rose. Although the closing price rose sharply on Thursday, the trend of international oil prices fell on the whole this week. Overall, the domestic market price of p-xylene declined slightly due to the decline of crude oil price.

The downstream PTA market price fell first and then rose this week. As of the 18th, the average PTA market price was 6000-6100 yuan / ton. On the whole, the PTA price fell by 1.03% this week. At present, the PTA market price trend is mainly affected by the trend of crude oil. The crude oil price first falls and then rises, and the PTA market price first falls and then rises with the crude oil. Up to now, the operating rate of PTA industry is about 74.5%, the processing fee is historically low, and the maintenance of PTA plants is increasing. The downstream polyester is under high construction, but the demand is not strong, and the inventory is overstocked. The quotation of mainstream polyester factories in Jiangsu and Zhejiang is flat, the wait-and-see mood in the terminal textile market is strong, the procurement is mainly cautious, and the domestic p-xylene market price has declined slightly.

Chen Ling, PX analyst of business society, believes that the current crude oil price is still supported, but the supporting role of the cost side is still there, and the downstream demand recovers slowly, but the PTA price trend declines slightly, and the overall demand side is still supported. It is expected that the price trend of p-xylene market will be stable in the later period.