According to the data of business associations, the domestic isomeric xylene market showed a slight pullback this week, with a weekly decline of about 0.7%, due to the effect of oil price pullback and long vacation.
|PVA 1799 (PVA BF17)|
II. Analytical Review
1. Products: Affected by the rapid recovery of Saudi crude oil production capacity, oil price recovery and the coming of long holidays in China, and the increasingly light trade, the isomeric xylene market showed a slight retracement trend this week despite the support of low port inventory. At present, the mainstream price in East China is around 6850-6900 yuan/ton. According to the feedback from traders, the trading volume fell slightly from last week, and the port inventory remained low, at about 15,000 tons.
2. Industrial chain:
Upstream, crude oil, affected by the rapid recovery of Saudi oil production, this week’s oil price rebound, spot Brent fell 3.8%, Brent futures fell 5.11%, WTI futures fell 3.12%, Dubai futures fell 3.98%.
|PVA 1788 (PVA BP17)|
Downstream, PX market, domestic PX price trend is stable, short-term PX market prices are expected to maintain a stable trend. PTA market, this week’s price trend is stable, CFR China is about 650 U.S. dollars / ton, affected by the downstream demand is not strong, PTA is expected to maintain a stable and volatile trend in the short term. OX market, the external offer FOB Rotterdam about 845 U.S. dollars / ton, due to the upstream mixed xylene rise, as well as downstream phthalic anhydride, plasticizer Market warming, this week o-xylene continued to rise, the short-term trend of o-xylene is expected to be stable.
3. Future Market Forecast
Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the trend of the Middle East situation, the progress of tariff imposition in Sino-US trade negotiations, and the European and American economies are worried about the expected fluctuation of demand for crude oil in the recession prospects. Due to the long-term holiday effect, the toluene market is expected to adjust its trend in a small way next week.