On April 22, the PX commodity index was 34.40, which was the same as yesterday, setting a new low in the cycle, 66.41% lower than the highest point of 102.40 on February 28, 2013. (Note: cycle refers to 2013-02-01 to now)
According to statistics, the market price trend of p-xylene in China is temporarily stable, the operation of new 600000 ton plant in Hongrun is stable, the operation of petrochemical plant in Pengzhou is stable, 50% of petrochemical plant in Urumqi is started, one line of aromatics plant in Fuhai Chuang is started, CNOOC Huizhou refining and chemical plant is overhauled, the PX plant in Hengli Petrochemical is put into operation, other units are temporarily stable, and the operation rate of domestic p-xylene plant is stable In about 70%, the domestic market supply of p-xylene is normal, and the domestic market price trend of p-xylene is stable temporarily. The operating rate of PX plant in Asia is about 80%. On April 21, the closing price of PX market in Asia dropped by 7 US dollars / ton, and the closing price was 445-447 US dollars / ton FOB South Korea and 465-467 US dollars / ton CFR China. More than 40% of PX in China needs to be imported. Recently, affected by the lower crude oil price, the external price of PX declined slightly, and the market price trend of PX was stable temporarily.
As of the 21st, the price of WTI crude oil futures market in the United States fell again, with the main contract at 11.57 yuan / barrel, and the settlement price fell by 8.86 US dollars, or – 43.07%. Brent crude oil futures market prices also fell sharply, with main contracts at $19.33/barrel and settlement prices down $6.24, or – 24.4%. Saudi Arabia and other OPEC member states are considering cutting oil production as soon as possible, rather than waiting until next month when the organization reached production agreements with the United States and Russia. Crude oil price plummeted and lost the cost support of downstream petrochemical products, and the market price trend of p-xylene was stable.
| PVA 1788 (PVA BP17) |
In terms of downstream PTA, the price trend of domestic PTA spot market declined, with the market average price of 3000-3100 yuan / ton as of April 22, and PTA price continued to decline in the near future. Affected by the sharp decline of crude oil price, the downstream PTA market price continued to decline. However, due to the sharp increase of global mask market demand, domestic polyester staple fiber, polyester chips and other downstream production and sales picked up, PTA was supported under the increase of demand. At the same time, after the production and sales volume at the beginning of the month, the inventory pressure of polyester factory has been relieved, and the polyester profit has been maintained at a relatively good level at present, the unit maintenance plan has been reduced, and the polyester starting load has been maintained around 83%. However, the overall transaction atmosphere in the downstream polyester filament market continued to be light, PTA prices fell recently, and the domestic p-xylene price trend was temporarily stable.
In recent years, the trend of crude oil price has declined, the price of downstream PTA market has declined slightly, and the demand of downstream terminal has not improved significantly. The analysts of business club think that the price of PX market may trend or slightly lower.
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