Price Trend
According to the data from the business associations’list, the overall price of xylene in China fell sharply this week. The average price of xylene in mid-month was 5,759 yuan/ton, while the average price of xylene in early month was 5,615 yuan/ton, with a monthly amplitude of 2.5%.
II. Analytical Review
1. Crude oil: This week, the oil market as a whole shook broadly, with many sharp rises and falls, and the surrounding environment fluctuated greatly.
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2. The reference price of FOB Korean xylene is also affected by crude oil, with fluctuations ranging from $684 to $708 per ton. Sinopec’s subsidiary company, Xylene listed prices in some areas have been reduced. Port stocks fell slightly, with about 110,000 tons in East China.
3. Downstream: At present, the market information is complex, the trading atmosphere is on the sidelines, the delivery is general, and the downstream delivery is cautious. The main focus of the market is on the production of Shandong PX plant.
| PVA 1799 (PVA BF17) |
3. Future Market Forecast
Xylene analysts from Business, Social and Chemical Branch believe that in general, crude oil prices will fluctuate broadly this week, or continue to fluctuate next week, and be alert to the risk of a sharp fall after a breakthrough. In the second quarter, there will be more centralized maintenance at home and abroad. The supply of xylene is expected to decrease, and the market is expected to be optimistic. With the late start-up of downstream PX plant, xylene will face the advantages of reduced supply and increased demand, and the price is expected to stop rising.
| PVA 1788 (PVA BP17) |