China’s domestic PX price declined in August

Domestic price trends:

According to statistics, the domestic price of p-xylene dropped in August. At the beginning of the month, the domestic price was 7,000 yuan/ton. At the end of the month, the domestic market price of PX was 6,650 yuan/ton. The overall decline was 5.0%, down 20.48% year on year. The price of PX external market maintained a low trend. The domestic market of PX was highly dependent on foreign market. The lower price of external market was the same for the domestic market. Italian air influence.

ferrous fumarate price

In recent years, the domestic market price of p-xylene has been declining. The domestic PX start-up rate is about 80%. Sinochem Hongrun Petrochemical 600,000 tons of new equipment has been put into operation. Yangtze Petrochemical Plant has been running steadily. Fuhaichuang Petrochemical Plant has started a line. Pengzhou Petrochemical Plant has been running steadily. Yangtze Petrochemical PX Plant has been running normally and Jinling Petrochemical Plant has been running steadily. Qingdao Lidong unit operates at full load, Qilu petrochemical unit operates steadily, Urumqi petrochemical unit starts at about 50%, Hengli petrochemical unit operates normally, domestic p-xylene supply increases, and PTA market demand downstream is general, domestic market prices are affected by the price decline. Influenced by the fluctuation of international crude oil prices, the price of PX outer plate fell. The closing price of Asia was US$765-767/ton FOB Korea and US$784-786/ton CFR China. Recently, a 700,000-ton PX unit in Saudi Arabia and Amy was in parking and overhaul. There are still several PX units in overhaul in Asia. Overall, paraxylene in Asia is in the process of overhaul. The start-up rate of the plant is about 70%. The supply of PX in Asia is normal. Domestic buying intention is weakening. Businessmen’offer is loose. More than 50% of domestic products need to be imported. The closing price of PX external market is lower than that of domestic market. The domestic market price of p-xylene is declining.

The closing price of international crude oil fluctuated in August. As of 29 days, the price of WTI crude oil futures market in the United States was $56.71 per barrel, Brent crude oil futures price was $61.08 per barrel. The closing price of crude oil has been maintained between $50 and $60 per barrel. The cost support for downstream petrochemical products is limited. PX is affected by lower external prices. Domestic prices are falling.

Ferrous Fumarate

In August, the downstream PTA market price trend declined. As of 30 days, the East China PTA market talks were around 5200-5300 yuan self-lifting. In August, PTA plant restart and maintenance coexisted. Fuhua Chemical Trade 4.6 million tons, Jiaxing Petrochemical 1.5 million tons restart, Yizheng Chemical Fiber 350,000 tons, Jialong Petrochemical 600,000 tons stop and repair in succession. The domestic PTA start-up rate maintained a high level of water. In August, about 90%, downstream polyester cash flow improved, profits recovered, some parking plants restarted, the start-up load increased to 90%, and there was a short-term replenishment action. However, textile terminal orders are still cold, just need to be prudently purchased. The comprehensive start-up rate of Jiangsu and Zhejiang looms is about 70%, the production and marketing of polyester market is low, and the recent start-up of downstream polyester has increased slightly, which has brought some favorable support to the domestic PX market. However, the price of domestic PX has declined due to the increase of supply.

Chen Ling, an analyst with business association PX, believes that the recent fluctuation in crude oil prices and the lower PTA market prices have slowed down, but the domestic and international PX supply has been normal in the near future, and the downstream PTA market has maintained a high start-up rate. It is expected that the later PX market price will be around 6,600 yuan/ton.

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