I. price trend

According to the data in the business club’s bulk list, the price of domestic isomeric xylene market rebounded steadily this week, up about 2.55% due to the support of low port inventory and the rebound of international oil price.

II. Analysis and comment

1. Products: compared with last week, the market transaction is stable this week. At present, the mainstream price in East China is about 6300-6350 yuan / ton. According to the feedback from traders, last week’s trading volume was average, and the port inventory remained low, about 18000 tons.

2. Industrial chain:

Upstream, in terms of crude oil, this week’s oil prices were generally volatile, with Brent up 1.18% at sight, Brent futures up 1.21%, WTI futures down 0.66% and Dubai futures up 2.73%.

In the downstream, PX market, the domestic PX price trend this week was temporarily stable, while the external price rose slightly, the price was about 768-770 US dollars / ton FOB South Korea and 788-790 US dollars / ton CFR China, and it is expected that the short-term PX market price will maintain about 6800 yuan / ton. In terms of PTA market, the domestic PTA spot market price rebounded slightly this week. With the support of cost and the increase of factory equipment maintenance, PTA commencement is at a low level, and it is expected that PTA will remain mainly in shock consolidation in the short term. In the ox market, Sinopec’s o-benzene price was temporarily stable, with the quotation at 6200 yuan / ton. The external quotation of o-benzene fell in shock, and it is expected that the weak market of o-benzene will be adjusted in the future.

III. future forecast

According to xylene analyst of business and chemical branch, we will continue to focus on market turnover and port inventory next week, as well as the progress of Sino-U.S. trade negotiations, and the expected fluctuation of crude oil demand due to the weak prospect of global economic indicators. In general, toluene market is expected to continue the shock correction trend next Tuesday.