China’s domestic price trend of p-xylene was temporarily stable on September 19

On September 19, 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 19th. 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 started one line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were operated 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 18, the closing price of p-xylene in Asia dropped by 31 US dollars per ton. The closing price is 799-801 US dollars per ton FOB in Korea and 818-820 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 negative impact on the domestic market price of p-xylene. However, the domestic market price trend is temporarily stable.

On September 18, the price of WTI crude oil futures fell to 58.11 U.S. dollars per barrel, or 1.23 U.S. dollars. Brent crude oil futures fell to 63.60 U.S. dollars per barrel, or 0.95 U.S. dollars. Saudi energy minister Abdulaziz Ben Salman held a news conference in Jeddah on the evening of 17 local time. Saudi Arabia will soon resume most of its oil production and fully resume all production in a few weeks. Crude oil prices have fallen, with limited impact on downstream petrochemical products and a decline in the external price of paraxylene. Recent textile industry volatility, PTA market opening rate maintained high, PTA price trend temporarily stable, the average price of East China in the vicinity of 5400-5500 yuan/ton self-raised, as of 18 days domestic PTA starting rate rose to 97.7%, polyester industry starting rate in about 90%, due to increased PTA supply, trading atmosphere is general, buy to trade. Easy to trade, sporadic polyester factories follow up, affected by the decline in crude oil prices downstream PTA market prices slightly lower, is expected to maintain PX market prices in the short term or 6600 yuan/ton.