Domestic price trend:

According to statistics, in April, the trend of domestic p-xylene ex factory price continued to decline. At the beginning of the month, the domestic price was 4300 yuan / ton. At the end of the month, the price of domestic PX market was 4000 yuan / ton. The price trend declined by 6.98%, 46.67% year-on-year. The external price of PX fluctuated and fell. The external dependence of domestic PX market was high. The external price decline was the negative impact of domestic price.

In recent years, the market price trend of p-xylene in China has continued to decline. The domestic PX operating rate is about 70%. The 600000 ton new unit of Sinochem Hongrun Petrochemical Co., Ltd. has been put into production. The operation of Yangzi Petrochemical plant is stable. The first line of Fuhai Chuang plant has been started. The operation of Pengzhou petrochemical plant is stable. The operation of Yangzi Petrochemical PX plant is normal. The operation of Jinling Petrochemical plant is stable. The operation of Qingdao Lidong plant is full load. The operation of Qilu Petrochemical plant is stable The operation of petrochemical plant is stable, the start-up of Urumqi petrochemical plant is about 50%, the operation of Hengli petrochemical plant is normal, the domestic p-xylene supply is sufficient, and the domestic market price continues to decline. Affected by the plummeting international crude oil price, the external price of PX continued to fall in April. As of the 29th, the closing price in Asia was 440-442 US dollars / ton FOB South Korea and 460-462 US dollars / ton CFR China. Recently, several PX units in Asia are still under maintenance. As a whole, the operating rate of PX units in Asia is about 70%, the supply of PX goods in Asia is normal, and the closing price of PX external market is sliding Empty domestic market, domestic market price of p-xylene continued to fall.

Affected by the international health events and the high crude oil inventory, the closing price of the international crude oil price fell in April. As of the 29th, the main contract settlement price of WTI crude oil futures market in the United States was 15.35 yuan / barrel, and that of Brent crude oil futures market was 24.23 US dollars / barrel. In April, the closing price of crude oil continued to fall, which lost the cost supporting role for downstream petrochemical products. Domestic petroleum Chemical products are affected by the sharp decline in raw material prices, petrochemical products have declined to varying degrees, and the domestic market price trend of p-xylene has declined.

 
In April, the price trend of the downstream PTA market slightly increased, and the domestic PTA spot market showed an “n” shape trend. As of April 29, the market average price was 3268 yuan / ton, up 2.54% from the beginning of the month, down 50.71% year on year. At the beginning of the month, affected by the news of crude oil cooperation and production reduction, the international oil price rose sharply, PTA ushered in the mood of bottom reading, spot market transactions were large, the price rebounded significantly, up 8.33% in 10 days. With the pressure of crude oil storage capacity and its own continuous high-level construction, the price dropped, the average market price on the 22nd was 3068 yuan / ton, a low in nearly a decade. At the end of the month, the downstream of the holiday will be replenished properly according to the price, the polyester production and marketing will pick up periodically, and the PTA price will rise slightly. The domestic p-xylene market will be affected by the small rise of the downstream price, and the price drop of p-xylene market will be limited.

Chen Ling, an PX analyst at business club, believes that in the near future, the crude oil price remains low, and the downstream PTA social inventory remains at a high level. From May to June, the PTA social inventory will reach a high value of 4 million tons. Due to the lack of foreign trade orders of downstream weaving enterprises and the incomplete recovery of domestic demand, and approaching the May Day holiday, some weaving enterprises have planned to stop work in advance for the holiday, with negative expectations and weak demand. It is expected that the market price of p-xylene will maintain a low level in the later period.