China’s domestic price trend of p-xylene was temporarily stable on August 20

On August 20, the PX commodity index was 56.00, unchanged from yesterday, down 45.31% from its peak of 102.40 points in the cycle (2013-02-28), and up 22.94% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

PVA 1788 (PVA BP17)

According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 20th day. Pengzhou Petrochemical Plant operated steadily, Urumqi Petrochemical Plant started 50% and Fuhai Aromatic Hydrocarbon Plant started one line. CNOOC Huizhou Refinery and Chemical Plant overhauled, Hengli Petrochemical PX Unit put into operation, and other units operated steadily temporarily due to the introduction of new units. Domestic market supply of p-xylene is normal, and market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. The closing price of p-xylene market in Asia increased by 2 US dollars/ton on August 19. The closing price is 773-775 US dollars/ton FOB Korea and 792-794 US dollars/ton CFR China. More than 50% of domestic units need to be imported. The fluctuation of foreign prices has certain influence on the domestic market price of p-xylene. The price trend of domestic p-xylene is temporarily stable.

PVA 1799 (PVA BF17)

On Aug. 19, the price of WTI crude oil futures rose to $56.21 a barrel, an increase of $1.34. Brent crude oil futures rose to $59.74 a barrel, an increase of $1.10. Statistics released by OPEC on Aug. 16 showed that OPEC cut crude oil production in July as it continued to struggle with falling oil prices. Volume and price of crude oil are rising, which has a positive impact on downstream petrochemical products and a temporary stable price trend for xylene. Recent textile industry volatility, PTA price trend is temporarily stable on the 20th day, the average price in East China is around 5300-5400 yuan/ton, the domestic PTA start-up rate is about 90% by the 19th day, the polyester industry start-up rate is about 88%, the downstream production and marketing rate has not changed much, the overall supply of PTA equipment maintenance will be reduced in the next two weeks, and polyester. Under the influence of factory resumption, negative sentiment was released, PTA rebounded, and the cost side supported the price of polyester. At the same time, polyester mills have recently taken the initiative to reduce prices and promote sales. Inventory pressure has been greatly reduced after the volume release. As the traditional sales season of textiles is approaching, “Gold, Nine, Silver and Ten”, downstream terminal enterprises may usher in a procurement cycle and demand side will improve. It is expected that the price of PX Market will remain volatile in the short term.