PX market trend this week is temporarily stable (12.2-12.6)

I. price trend:


According to statistics, the trend of domestic p-xylene ex factory price this week is temporarily stable. The weekend average price is 6700 yuan / ton, which is the same as the price of 6700 yuan / ton at the beginning of the week, down 21.18% year on year.


II. Market analysis:


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Products: this week, the domestic market price trend of p-xylene is temporarily stable, the domestic PX operation rate is maintained at more than 70%, the operation of new 600000 ton Hongrun unit is stable, the operation of Huizhou refining and chemical unit is stable, the first line of Fuhai Chuang unit is started, the operation of Pengzhou petrochemical unit is stable, the operation of Yangzi Petrochemical PX unit is normal, the operation of Jinling Petrochemical unit is stable, the operation of Qingdao Lidong unit is full load, Qilu Petrochemical equipment is stable The plant is stable in operation, with the Urumqi petrochemical plant operating at about 50%, Hengli petrochemical plant operating normally, the domestic supply of p-xylene is normal, and the domestic market price trend of p-xylene is temporarily stable. This week, the operating rate of PX plant in Asia is more than 70%, and the supply of PX in Asia is normal. The price of PX on the outside market rose this week. As of the end of the week, the closing price of PX market in Asia was 787-789 US dollars / ton FOB South Korea and 808-810 US dollars / ton CFR China. Affected by the rise of international original oil price, the price of PX on the outside market rose slightly this week, and more than 50% of domestic products need to be imported, P The rising closing price of X foreign market has brought certain support to the domestic market, and the price trend of domestic PX market is temporarily stable.


Industry chain: the closing price of domestic crude oil rose this week. As of the 5th, WTI crude oil futures in the United States was at $58.43/barrel and Brent crude oil futures was at $63.39/barrel. Overall, the closing price of crude oil rose slightly this week. On December 6, OPEC + meeting will be held with Russia and other oil producing countries. Thamer Ghadhban, Iraq’s oil minister, said in an interview with CNBC in Vienna In order to reduce the oversupply in the international market, the current production reduction of 1.2 million barrels / day cannot meet the requirements. Iraq is considering further expanding the production reduction, which is also Saudi Arabia’s preferred opinion. The rise of crude oil price has a certain cost support impact on the price of downstream petrochemical products, and the price trend of PX market is temporarily stable. The price trend of PTA Market in the downstream of this week increased slightly, with an increase of 0.81% this week. As of the end of the week, the price trend of raw material PX market in East China was near 4800-4950 yuan self delivery through negotiation. The market price trend of upstream raw material PX was temporarily stable. In the near future, the starting load of PTA was about 92%. The restart of multiple sets of devices at the supply end was bad for PX market, and the terminal demand slightly changed, and the polyester start-up remained stable. The polyester start-up load in the lower reaches is around 88%, and the start-up rate of Jiangsu and Zhejiang looms is down to 70%. The profit of terminal weaving and texturing enterprises is not optimistic. The comprehensive start-up rate of Jiangsu and Zhejiang looms is around 70%, and the purchasing and stock up mood is general. The prices of polyester mainstream factories in Jiangsu and Zhejiang are mainly stable, the terminal demand is not significantly improved, and the market price trend of p-xylene is stable.


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Industry: this week, the trend of the textile industry remained volatile, the textile industry’s operating rate changed little, the crude oil price rose slightly, and the raw material PX market was temporarily stable.


3. Future forecast:


Chen Ling, an PX analyst at business club, thinks that in the near future, the crude oil price has increased slightly, and the PTA market price has increased slightly. The operating rate of the downstream textile industry has declined slightly, and the domestic PX market supply is normal. It is expected that the PX market price will maintain a level of 6700 yuan / ton next week.


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