Price Trend

The domestic xylene market continued to rise slightly this week, with a weekly increase of about 0.85%, due to the rise in crude oil upstream, according to business associations’data.

II. Analytical Review

1. Products: Influenced by the upstream crude oil rise, xylene market rose slightly this week. At present, the mainstream price in East China is around 6000-6050 yuan/ton. According to the feedback from traders, this week’s turnover has shrunk slightly. Compared with last week, port inventory has dropped by nearly 7,000 tons, and is now about 45,000 tons.

2. Industrial chain:

Upstream, crude oil prices jumped sharply from last week. Oil prices rebounded slightly this week, with spot Brent up 2.36%, Brent futures up 2.04%, WTI futures up 0.99%, Dubai futures up 3.58%.

Downstream, PX market, this week’s small decline in external prices, domestic PX price trend is stable, short-term PX market prices are expected to maintain a stable trend. PTA market, this week’s price slightly lower, PTA is expected to maintain a stable short-term volatility trend. On the OX market, this week’s external quotation fell, downstream phthalic anhydride, plasticizer market was weak, and short-term trend of o-phenyl is expected to be negative.

3. Future Market Forecast

Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the progress of tariff increases in Sino-US trade negotiations, and the European and American economies are worried about the expected fluctuations in demand for crude oil in the recession prospects. Taken together, the toluene market is expected to fluctuate slightly next Tuesday.