I. price trend

According to the data in the business club’s bulk list, affected by the weakening downstream demand and shrinking turnover, the domestic isomeric xylene market showed a correction trend this week, with a weekly decline of about 5.3%.

II. Analysis and comment

1. Products: affected by the weak global economic indicators and the general correction of bulk commodities, the domestic isomeric xylene market continued to pull back the downward trend this week. At present, the mainstream price in East China is around 5850-5950 yuan / ton. According to the feedback from traders, last week’s trading volume continued to shrink, and the port inventory remained low, about 28000 tons.

2. Industrial chain:

Upstream, in terms of crude oil, this week’s oil prices were mixed, with spot Brent down 0.79%, Brent futures down 0.62%, WTI futures up 1.09% and Dubai futures up 0.77%.

Downstream, PX market, domestic PX price trend is stable, it is expected that the short-term PX market price will maintain a stable trend. In terms of PTA market, this week’s price trend is stable, CFR China is about $625 / ton, which is expected to maintain a stable and volatile trend in the short term due to the weak downstream demand. As for the ox market, the upstream and downstream market fell, and the overall ortho benzene market was both positive and negative. The rising power of the future ortho benzene price weakened, and the downward pressure increased. It is expected that the future ortho benzene market will be weak and stable.

III. future forecast

According to xylene analysts from the chemical branch of Business News Agency: next week, we will continue to focus on the trend of the situation in the Middle East, the progress of Sino US trade negotiations, and the expected fluctuation of crude oil demand due to the weak prospect of global economic indicators. Due to the expected arrival of large quantities of xylene at the end of the month, traders are cautious at present. On the whole, it is expected that the toluene market will continue to fluctuate and adjust next Tuesday.