Price Trend

The domestic xylene market rose slightly this week, with a weekly increase of about 0.86%, due to the support of downstream demand, according to a large number of business associations.

II. Analytical Review

1. Products: Influenced by downstream demand support, xylene market rose slightly this week. At present, the mainstream price in East China is around 5900-5950 yuan/ton. According to the feedback from traders, the turnover has improved slightly this week. Compared with last week, the port stock has dropped by nearly 8,000 tons, and now it is about 52,000 tons.

2. Industrial chain:

Upstream, crude oil, affected by long-term and short-term Treasury bond interest rate upside-down signals fearing the impact of the U.S. recession, and Trump’s impact on China’s $300 billion trade postponement, reduction and exemption and tariff increase, jumped sharply this week compared with last week, with a larger fluctuation, but overall stable, spot Brent rose slightly by 0.02%, Brent futures fell by 0.27%, WTI. Futures rose 0.09%, Dubai futures rose 2.66%.

Downstream, PX market, external prices rose slightly, domestic PX price trend is stable, short-term PX market prices are expected to maintain a stable trend. PTA market, affected by downstream polyester rework, demand is expected to turn better, PTA is expected to rebound slightly in the short term. On the OX market, external quotation fell, downstream phthalic anhydride and plasticizer market fell under pressure, and short-term trend of o-phenyl is expected to be negative.

3. Future Market Forecast

Xylene analysts from Business, Social and Chemical Branch believe that next week we will continue to focus on the trend of the situation in the Middle East, the United States and Iraq, and the follow-up progress of Sino-US trade negotiations. The European and American economies are worried about the expected fluctuation of demand for crude oil in the recession prospects. Overall, the toluene market is expected to continue to shake slightly next Tuesday.