Domestic price trend:

According to statistics, in February, the trend of domestic p-xylene ex factory price declined. At the beginning of the month, the domestic price was 6700 yuan / ton. At the end of the month, the domestic PX market price was 6300 yuan / ton. The price trend declined by 8.70%, 30% year-on-year. The external price of PX fell. The domestic PX market was highly dependent on the external market. The external price decline was the negative impact of domestic price.

In recent years, the market price trend of p-xylene in China has declined. The domestic PX operation rate is about 70%. The 600000 ton new unit of Sinochem Hongrun Petrochemical Co., Ltd. has been put into operation. The operation of Yangzi Petrochemical plant is stable. The first line of Fuhai Chuang plant has been started. The operation of Pengzhou petrochemical plant is stable. The operation of Yangzi Petrochemical PX plant is normal. The operation of Jinling Petrochemical plant is stable. The operation of Qingdao Lidong plant is full load. Qilu Petrochemical plant is in full load operation The operation of the unit is stable, with the start-up of Urumqi petrochemical plant at about 50%, the operation of Hengli petrochemical plant is normal, the domestic supply of p-xylene is normal, and the domestic market price is significantly lower. Affected by the decline of international crude oil price, the external price of PX fell in February. As of the 27th, the closing price in Asia was 686-688 US dollars / ton FOB South Korea and 706-708 US dollars / ton CFR China. Recently, several PX units in Asia are still under maintenance. As a whole, the operating rate of PX units in Asia is about 70%. The supply of PX goods in Asia is normal. The closing price of PX external market is sliding Domestic market, domestic market price of p-xylene fell.

Affected by the epidemic, transportation was limited to some extent. In February, the closing price of international crude oil fell sharply. As of the 27th, the price of WTI crude oil futures market in the United States continued to fall. The main contract was 47.09 yuan / barrel, and the price of Brent crude oil futures market continued to fall sharply. The main contract was 51.73 US dollars / barrel. The closing price of crude oil fell sharply, and the downstream petrochemical products lost With certain cost support, the domestic market price trend of p-xylene fell.

In February, the price trend of PTA Market in the downstream fell sharply. As of 28, the price of PTA Market in East China was about 4300-4400 yuan, down 10.15% in February. In this public health emergency, the terminal weaving enterprises were the most affected in PTA industry chain, and when the downstream production could be resumed became the most worried topic in the market. Although many enterprises are planning to return to work after the middle of February, due to the upgrading of the local government’s protective measures against the epidemic, as well as the traffic control and isolation period of workers returning from other places, up to now, the comprehensive start-up rate of chemical fiber weaving in Jiangsu and Zhejiang is only 38%. In the past years, weaving enterprises can enter into normal production status in 2-3 weeks after the Spring Festival, but under the influence of the epidemic this year, weaving factories can recover gradually as early as the beginning of March, demand lags for at least one month, downstream demand is poor, and upstream market price of p-xylene is low.

Chen Ling, an PX analyst at the business agency, believes that in the near future, the trend of crude oil price has declined, and the price of PTA Market in the downstream has fallen, so the methyl ester terminal market has not improved significantly, and it is expected that the market price of p-xylene in the later stage will continue to decline.