Price Trend
According to the data of business associations, driven by the rise in crude oil, domestic xylene market prices continued to rise last week, with a weekly increase of about 2.5%.
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II. Analytical Review
1. Products: The market price of xylene was stable from the beginning of the week to the middle of the week. Driven by the rebound of oil price in the second half of the week, the price began to rise. At present, the mainstream price in East China is about 5600-5650 yuan/ton.
2. Industrial chain:
Upstream, crude oil, this week oil prices changed from last week’s decline, a strong rebound, Brent crude oil futures rose about 4.4% this week, WTI crude oil futures rose about 4.9% this week.
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Downstream, PX market, downstream PTA prices rise, overlapping Global trade has good expectations, terminal textile exports are expected to increase, PX downstream market is supported, short-term prices still have room to rise; OX market, phenyl market is mixed, the future phenyl clean-up operation, market stability.
3. Future Market Forecast
Xylene analysts from Business, Social and Chemical Branch believe that the toluene market is expected to pull back slightly next Tuesday. For international crude oil, we need to focus on the situation in the United States and Iraq and the fluctuation of demand for crude oil in the global economic outlook.
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