Domestic price trend:

It can be seen from the PX trend chart that the PX price trend is stable this week. As of the end of the week, the domestic PX ex factory price is 6700 yuan / ton, which is the same as that at the beginning of the week, with a year-on-year increase of 21.82%. The PX external price trend is volatile this week, and the domestic PX market is highly dependent on foreign countries. The external price volatility has a certain positive impact on domestic prices.

In recent years, the domestic PX operation rate is more than 60%. Sinopec Hongrun Petrochemical 600000 ton unit operates stably, Yangzi petrochemical unit operates stably, Pengzhou petrochemical unit operates stably, Yangzi Petrochemical PX unit operates normally, Jinling Petrochemical unit operates stably, Qingdao Lidong unit operates at full load, Qilu petrochemical unit operates stably, and Urumqi petrochemical unit starts at about 50% The supply of xylene is general, but there are many overhauls of overseas units, and the domestic price trend of p-xylene remains high. The recent international crude oil price trend is volatile, and the PX external price has little change. As of the 18th, the closing prices in Asia are 818-820 US dollars / ton FOB Korea and 836-838 US dollars / ton CFR China. The recent operating rate of PX unit in Asia has little change. As a whole, the operating rate of PX unit in Asia is less than 60%, the supply of PX in Asia is general, and the PX external closing price has little change, which is affected by the external factors The domestic market price of p-xylene was affected by the market price.

Recently, the oil price continued to decline, and the price of WTI crude oil futures market in the United States fell sharply. The settlement price of the main contract was at US $60.06/barrel, down by US $4.57 or 7.07%. Brent crude oil futures market prices fell sharply, the settlement price of the main contract at 63.03 U.S. dollars / barrel, down 4.97 U.S. dollars or 7.30%. WTI and Brent oil prices both fell by more than 7% on Thursday. At present, they have fallen for five consecutive trading days, mainly due to the slowdown of vaccination in Europe, which depresses the momentum of economic recovery, as well as the strong US dollar, the increase of US crude oil inventory, and the added disturbance of bad news such as tense relations between the US and Russia. In the short term, the slowdown of vaccination in Europe may be only temporary, and the process of market recovery remains unchanged. Crude oil prices fell sharply, which was bad for the domestic petrochemical market, and the price trend of domestic p-xylene was temporarily stable.

In the near future, the price trend of PTA Market in the downstream is temporarily stable, and the domestic PTA spot market is volatile. As of the 19th, the average price of PTA market is 4450-4500 yuan / ton, and the price trend is stable this week. PTA supply continues to be at a high level. Due to limited maintenance efforts, the operation rate of domestic PTA plant is about 79%. The terminal market returned to work in an orderly manner after the festival. As of March 18, the comprehensive operating rate of chemical fiber weaving in Jiangsu and Zhejiang areas had increased to more than 84%. The downstream market was cautious and there were many inquiries, but the “order” was still hesitant, and the orders had not significantly improved. The price trend of downstream PTA is stable, which has a certain positive support for the price of upstream PX market, and the price trend of PX market is temporarily stable.

Chen Ling, PX analyst of business news agency, believes that the current cost side is lower, and the short-term crude oil price may decline, but the downstream PTA product maintenance device may increase, and it is expected that the market price of p-xylene may remain stable in the later period.