According to the Commodity Market Analysis System of the Business Society, the price of mixed xylene rose first, then fell and rose, and then slightly declined in August. On August 31st, the benchmark price of mixed xylene was 8390 yuan/ton, an increase of 2.57% from 8180 yuan/ton at the beginning of the month; The high point within the cycle is 8630 yuan/ton.

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 late August, the inventory of xylene in East China was around 16000 tons; There are around 2000 tons of mixed xylene warehouses in South China, with inventory decreasing by 8500 tons compared to the beginning of the month.

High level oscillation of crude oil still supports the cost of xylene

In August, crude oil emerged from a trend of rising and falling, and in the first half of the year, the market continued to rise amidst supply concerns and the positive trend of the peak oil consumption season. Brent crude oil topped $87 per barrel, while WTI crude oil approached $83, reaching a nearly 9-month high. Drive the toluene market higher. Afterwards, with the deterioration of macro data, the market turned sharply downwards, and near the end of the month, the WTI fell below $80. Under the combined effect of OPEC+production control and weak economic data in oil producing countries, the supply-demand game intensifies, and the market shifts into a narrow range of fluctuations. The cost support for toluene has weakened.

PX Price Slightly Rises, Opening Rate Maintains Over 70% Demand, Supports Mixed Xylene

In August, the supply of paraxylene was relatively normal, with a domestic PX operating rate of over 70%. However, during the maintenance of some paraxylene units, there was little change in spot supply. In August, the international crude oil price fluctuated at a high level, and PX external market prices remained at a high level. As of the 27th, the closing prices in Asia were 1042-1044 yuan/ton FOB South Korea and 1067-1069 dollars/ton CFR China. Recently, the operating rate of PX devices in Asia has been mainly fluctuating. Overall, the operating rate of xylene devices in the Asian region is over 60%. The supply of PX goods in the Asian region has not changed much, and the domestic xylene market price trend has slightly increased.

After the rise of ortho benzene in August, it stabilized and lacked support for mixed xylene in the later stage

According to the Commodity Market Analysis System of Business Society, as of August 31st, the price of ortho xylene was 9000 yuan/ton, an increase of 4.65% compared to 8600 yuan/ton at the beginning of the month. At the beginning of the month, the prices of crude oil and naphtha surged, supported by the cost of ortho benzene; In the second half of the month, the price of phthalic anhydride stopped rising and fell. The decline in the price of naphthalene phthalic anhydride was bearish for ortho phthalic anhydride, and plasticizer enterprises started operating at a low level. The demand for phthalic anhydride was weak, and ortho phthalic anhydride demand was weak. The price rise was weak.

The demand for xylene has been supported by the increase in gasoline and diesel consumption

The price of finished oil slightly increased in August. The international crude oil price fluctuated at a high level in August, and there is still some support for the cost of finished oil. The demand for refined oil products increased during the peak season in August. In terms of gasoline, it is at the peak stage of summer tourism, with frequent private car travel and an expanded radius of travel. The high temperature in summer has increased the use of oil for car air conditioners, resulting in strong demand. The domestic gasoline market trend is relatively strong. In addition, the recent downstream replenishment mentality is still acceptable, and the main external procurement has increased. Refinery inventory has remained low, and various factors support strong willingness of merchants to increase prices. In terms of diesel, on the one hand, boosted by optimistic diesel export profits, domestic diesel export volume remains high, and market resource supply is tightening; On the other hand, since the beginning of autumn, the hot weather has gradually subsided, and the workload of outdoor infrastructure projects and other industries has gradually increased. In addition, with the end of the fishing period, diesel demand has slowly recovered, and an increase in demand still provides support for the domestic diesel market.

Future forecast: In the short term, supported by international crude oil and naphtha costs, domestic supply remains tight, but downstream demand weakens after a significant increase in prices. It is expected that mixed xylene will operate at high levels in the future, but the upward trend may slow down.