1、 Price trend

 

Melamine

The price of mixed xylene fell this week, according to the data of the bulk list of business cooperatives. On October 14, the price was 8400 yuan/ton; On Friday (October 21), the price was 8260 yuan/ton, down 1.67% from last week and up 18% from the same period last year.

 

2、 Analysis and review

 

Due to the weak demand side, the mixed xylene was weak in the week. In terms of downstream chemical products, the market for terminal gasoline continued to decline, the actual transactions on the market were limited, and the number of operators was increasing on the sidelines.

 

In terms of external market, Asian mixed xylene in external market rose slightly this week. On Thursday (October 20), the price of mixed xylene imported from South Korea was US $991.5/ton, with a year-on-year increase of US $8.54/ton, or 0.86%.

 

In terms of crude oil, international oil prices fell into a deadlock this week. Under the expectation of multi country interest rate increase, economic recession worries continue to depress the crude oil market; However, supported by the sharp decline of US crude oil inventory and OPEC+production reduction in the week, oil prices rose and fell. As of October 21, Brent price this week rose by 1.87 dollars/barrel, or 2.04%, compared with last week; WTI fell 0.56 USD/barrel, down 0.65%.

 

In terms of downstream, in terms of PX, the domestic PX price was stable this week. On October 14, the price was 9300 yuan/ton, and on October 21, the price was 9300 yuan/ton, unchanged from last week, and up 27.4% from the same period last year.

 

In terms of OX, the price of OX in East China was stable this week. On October 14, the price was 9600 yuan/ton, and on October 21, the price was 9600 yuan/ton, unchanged from last week, and 39.13% higher than the same period last year.

 

EDTA

In terms of gasoline, gasoline rebounded after falling this week. On October 14, the price was 8420 yuan/ton, and on October 21, the price was 8303 yuan/ton, down 1.39% from last week and 5.19% from the same period last year.

 

3、 Future market forecast

 

In terms of crude oil, the crude oil market continued the long short game. Positive, OPEC+production reduction, European winter energy supply shortage. Bad news: European and American interest rate hikes are expected, and the market’s worries about economic recession continue to weigh on the crude oil market. We will continue to pay attention to the geopolitical situation, the latest OPEC+production policy, the stock dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.

 

Downstream demand performance is poor, crude oil trend is volatile, mixed xylene lacks positive support, and short-term price is weak. Pay attention to the market trend of crude oil and gasoline, the impact of mixed xylene and downstream device dynamics, port inventory, and external market on the price of mixed xylene.

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