On October 14, China’s domestic price trend of p-xylene was temporarily stable

On October 14, the PX commodity index was 54.40, unchanged from yesterday, down 46.88% from its peak of 102.40 points in the cycle (2013-02-28), and up 19.43% 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 14th. Hongrun 600,000 tons new plant was running steadily, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Unit was starting a line, CNOOC Huizhou Refinery and Chemical Unit was overhauled, Hengli Petrochemical PX Unit was put into operation, and other units were running steadily for the time being, due to the introduction of new units in China. The market supply of xylene is normal and 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 market in Asia rose by 15 US dollars/ton on October 11. The closing price is 793-795 US dollars/ton FOB Korea and 813-815 US dollars/ton CFR 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, but the domestic market price trend is temporarily stable.

On October 11, WTI crude oil futures market rose to 54.70 US dollars / barrel, or 1.15 US dollars, while Brent crude oil futures rose to 60.51 US dollars / barrel, or 1.41 US dollars. According to OPEC’s October oil market report, the crude oil output of 14 OPEC countries in September was about 28.49 million barrels / day, down 1318 tons / day, mainly Saudi Arabia ala. Production declined in Burma and Iraq, but crude oil production increased in Angola and Congo. In September 2019, the proportion of OPEC crude oil in global output fell by 0.8% to 29.3% compared with last month. The rising price of crude oil has a cost-supporting effect on downstream petrochemical products, and the domestic price trend of paraxylene is stable. Recent textile industry market shocks, PTA market start-up rate declined, PTA price trend shocks, the average price of East China in the vicinity of 5100-5200 yuan/ton, as of 12 days domestic PTA start-up rate is about 87.5%, polyester industry start-up rate is about 90%, due to sufficient PTA supply, general trading atmosphere, mainly traders, sporadic polyester factories follow-up, by crude oil price shocks. The downstream PTA market price will remain low due to the turbulence. It is expected that the price of PX market will remain 6,800 yuan/ton in the short term.