According to the Commodity Market Analysis System of the Business Society, the mixed xylene market significantly decreased in October. On October 30th, the benchmark price of mixed xylene was 7330 yuan/ton, a decrease of 13.66% from 8490 yuan/ton at the beginning of the month.
| Benzalkonium chloride |
Since October, the arbitrage space between Asia and the United States has narrowed, and the external price of xylene has decreased
Since October, the demand for mixed blending in North America has continued to decline, and the outflow of aromatics has significantly decreased, causing a slight decrease in xylene prices across Asia. As of October 27th, the price of isomeric grade xylene in Asia was between 889-890 US dollars per ton, a significant decrease from the beginning of the month at 959-960 US dollars per ton.
Domestic inventory increased significantly in the early stage and decreased slightly in the later stage compared to September
The inventory of mixed xylene remains low and the supply of goods remains relatively tight, providing support for the mixed xylene market. It is understood that as of mid October, the total inventory of xylene in East and South China was 29000 tons, a significant increase from 19000 tons at the end of September; As of the end of October, the inventory of xylene in East and South China had significantly decreased from mid October to 20000 tons.
Crude oil has slightly decreased overall this month, and xylene cost support has weakened
Since October, the overall international crude oil price has declined, and the cost support for xylene has weakened. As of October 27th, the WTI12 contract closed at $85.15 per barrel and settled at $85.54 per barrel; The Brent 01 contract closed at $89.12 per barrel and settled at $89.20 per barrel.
PX Starts with Small Fluctuation Xylene Gains Just Needed Support
The domestic supply of paraxylene is normal, and the domestic PX operating rate is around 70%. Spot supply is relatively normal, and the crude oil price trend is rising. The external price trend of PX is mainly fluctuating. As of October 19, the closing price in Asia is 993 yuan/ton FOB South Korea and 1018 dollars/ton CFR China. Recently, the operating rate of PX plants in Asia has been mainly fluctuating, and overall, the operating rate of xylene plants in the Asian region is around 70%.
Weak demand for phthalic anhydride and weak support for xylene
In October, the operating rate of domestic phthalic anhydride remained at over 60%, and the supply of phthalic anhydride goods was relatively sufficient. In addition, the production of naphthalene phthalic anhydride goods was normal, and the price of naphthalene phthalic anhydride fell, which correspondingly impacted the neighboring phthalic anhydride market. In October, downstream procurement was not active, and some phthalic anhydride manufacturers continuously lowered their factory prices, causing a significant decline in the phthalic anhydride market.
| Sodium Molybdate |
Domestic mixed blending demand is gradually entering the off-season and xylene demand support is weakening
Since October, the domestic mixed blending market has entered a low season, coupled with downstream replenishment behavior before the Double Festival, downstream inquiries have been light after the festival, and the demand for toluene mixed blending continues to weaken. Recently, the operating load of refineries in China has exceeded 70%, while the operating load of local refineries in Shandong is around 65%.
In terms of gasoline, there has been no holiday support recently, with a decrease in self driving frequency and driving radius. The demand for gasoline has decreased, and some businesses are moderately restocking on dips. The purchasing sentiment is not positive, and some refineries have increased their inventory. The decline in gasoline is significant. In terms of diesel, the construction of outdoor infrastructure and engineering projects has maintained a high level, coupled with the support of demand for open sea fishing and agricultural autumn harvests, logistics and transportation have shown active negative performance. The overall demand for diesel is relatively stable, so the decline in diesel is relatively small.
Future forecast: In the short term, international crude oil prices will fluctuate at high levels, while xylene costs will still be supported. Domestic sources of goods will accumulate significantly and gradually be destocked. It is expected that mixed xylene will consolidate in a narrow range in the future.
| http://www.lubonchem.com/ |