China’s domestic price trend of p-xylene was temporarily stable on September 16

On September 16, 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).

According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 16th. 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%. On September 13, the closing price of p-xylene in Asia dropped by 3 US dollars/ton. The closing price is 763-765 US dollars/ton FOB in Korea and 782-784 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The decline of foreign prices has a negative impact on the domestic market price of p-xylene. The price trend of p-xylene in the market is stable for the time being.

On September 13, the price of WTI crude oil futures fell to 54.85 U.S. dollars per barrel, or 0.24 U.S. dollars. Brent crude oil futures fell to 60.22 U.S. dollars per barrel, or 0.16 U.S. dollars. Due to terrorist attacks, Saudi Amy’s factories in Bougaing and Kules caught fire, resulting in 5.7 million barrels per day of the original. Oil shutdown, the supply of major production areas significantly reduced, the opening price of crude oil rose sharply on the 16th day, which brought some favorable support for downstream petrochemical products, and the price trend of p-xylene market was temporarily stable. Recently, the textile industry has maintained a volatile market, PTA market opening rate has slightly declined, PTA price has temporarily stabilized on the 16th day. The average price of East China is raised near 5200-5300 yuan/ton. As of the 12th day, domestic PTA starting rate is about 94.5%, and polyester industry starting rate is about 91%. Traders dominate, sporadic polyester factories follow-up, downstream PTA market prices remain low, downstream demand does not change much, it is expected that the PX market prices will remain low in the short term.