Tentative Stability of Domestic p-Xylene Price in China on September 10

On September 10, the PX commodity index was 52.80, unchanged from yesterday, down 48.44% from its peak of 102.40 points in the cycle (2013-02-28), and up 15.92% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

PVA 1799 (PVA BF17)

According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 10th. Hongrun 600,000 tons new plant was running steadily, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Plant was starting a line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were running steadily. Temporarily stable operation, due to the normal domestic market supply of p-xylene, the 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 in Asia rose by 8 US dollars/ton on September 9. The closing price is 768-770 US dollars/ton FOB in Korea and 787-789 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The rise of foreign prices has a positive impact on the domestic market price of p-xylene. The price trend of p-xylene in the market is stable for the time being.

PVA 1788 (PVA BP17)

On September 9, the price of WTI crude oil futures rose to $57.85 per barrel, an increase of $1.33. Brent crude oil futures rose to $62.59 per barrel, an increase of $1.05. According to the EIA on Thursday morning, Asian crude oil futures prices rose in the morning trading period. Inventory data were released later Thursday in the United States. Previously, the prices of both international benchmark crude oil futures contracts increased by more than $2 per barrel, and the trend of crude oil prices rose, which had a positive impact on downstream petrochemical products and temporarily stabilized the price trend of xylene market. Recently, the textile industry has maintained a low price, PTA price has risen slightly on the 10th day. The average price in East China is raised near 5300-5400 yuan/ton. As of the 9th day, the domestic PTA start-up rate is about 97% and the polyester industry start-up rate is about 90%. Due to the limited support of planned overhaul to the market rebound, the trading atmosphere has declined. Traders dominate, sporadic polyester factories follow-up, downstream PTA market prices maintain low volatility, and it is expected that PX market prices will maintain low volatility in the short term.