Domestic p-xylene price trend:

It can be seen from the p-xylene trend chart that the market price trend of p-xylene this week is temporarily stable. By the end of the weekend, the domestic ex factory price of p-xylene was 9300 yuan / ton, unchanged from the price of 9300 yuan / ton at the beginning of the week, with a year-on-year increase of 45.31%.

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 remains stable. Driven by the decline in the closing price of international crude oil, the trend of PX external price declined slightly. As of the 7th, the closing prices in Asia were US $1134-1136 / ton FOB Korea and US $1152-1154 / 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 units in Asia is more than 60%. The supply of PX goods in Asia is normal, the closing price of PX external price fell slightly, and the price trend of domestic p-xylene market is temporarily stable.

Crude oil prices fell this week. The settlement price of the main contract of WTI crude oil futures in the United States was US $96.03/barrel, and the settlement price of the main contract of Brent crude oil futures was US $100.58/barrel. International crude oil futures have fallen for three consecutive times. The large-scale release of reserves by consumer countries has put pressure on oil prices. In addition, the EU’s energy sanctions against Russia are still uncertain, and the expectation of supply tightening has eased slightly. In addition, the International Energy Agency has a plan to release crude oil reserves. Negative factors affect the decline of international crude oil price. Affected by the decline of crude oil price, the price trend of domestic p-xylene market is temporarily stable.

The price trend of downstream PTA market fell this week, and the average price of PTA market was 6100-6200 yuan / ton as of August 8. Yisheng Ningbo 2 million ton PTA plant was restarted on March 28, and Zhongtai Petrochemical 1.2 million ton PTA plant was overhauled on March 25 and restarted around April 11. Ineos 1.25 million ton PTA plant was overhauled on March 26 and is planned to restart around May 1. Plant restart and maintenance are carried out in parallel, and the supply continues to be low. At present, the operating rate of the industry is 73%. Due to the pressure of inventory and cash flow, some factories in the downstream started to reduce the burden and production, and the operating rate of the industry fell below 88%. Disturbed by the epidemic situation, the demand for terminal weaving is weak, and the orders in the peak textile season are less than expected, resulting in the polyester demand and inventory situation is not optimistic, and there are certain variables in the production of new polyester production capacity. There is a strong wait-and-see mood in the terminal textile market, mainly cautious procurement, and the price trend of domestic p-xylene market is temporarily stable.

Chen Ling, PX analyst of business society, believes that the current crude oil price has fallen, but the supporting role of the cost side is still, the downstream demand has recovered slowly, coupled with the slight decline of PTA price trend, and the overall demand side is weak. It is expected that the market price of p-xylene may decline in the later period.