China’s domestic price trend of p-xylene was temporarily stable on March 21

On March 20, the PX commodity index was 72.00, unchanged from yesterday, down 29.69% from its peak of 102.40 points in the cycle (2013-02-28), and up 58.07% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

Recently, the domestic market price trend of p-xylene has been temporarily stable. Pengzhou Petrochemical Plant has been running steadily. Urumqi Petrochemical Plant has started 50% of its operation. Fuhaichuang Aromatic Hydrocarbon Plant has started a line. CNOOC Huizhou Refinery and Chemical Plant has been overhauled. Other units have been running steadily for the time being. The domestic market supply of p-xylene is normal. The market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. On March 20, the closing price of p-xylene in Asia dropped by 14 US dollars per ton. The closing price is 1043-1045 US dollars per ton FOB in Korea and 106 2-1064 US dollars per ton CFR in China. More than 50% of the domestic units need to be imported. The decline of foreign prices has a positive and negative impact on the domestic market price of p-xylene, and the price of p-xylene in the market fluctuates.

On March 20, the May futures market price of WTI crude oil in the United States rose to $59.83 per barrel, an increase of $0.80. The May futures price of Brent crude oil fell to $68.50 per barrel, a decrease of $0.89. The slight increase in crude oil price has little effect on the price of downstream petrochemical products and has temporarily stabilized the price trend of xylene market. Recent textile industry volatility, PTA prices maintained a low trend on 21 days. The average offer price in East China was raised near 6500-6600 yuan/ton. As of 21 days, domestic PTA start-up rate was about 84%, polyester industry start-up rate was about 80%, downstream production and sales rate increased, but PTA market prices were lower, and the price of PX market is expected to remain volatile in the later period.