Price trends:

According to statistics, the domestic price of p-xylene increased this week. The average price at the weekend was 6,800 yuan/ton, which was 3.03% higher than that at the beginning of the week and 38.18% lower than that at the beginning of the week.

II. Market analysis:

Products: This week, the domestic market price trend of p-xylene has risen, the domestic PX start-up rate has maintained more than 70%, Hongrun 600,000 tons of new plant is running steadily, Huizhou refining and chemical plant is running steadily, Fuhai Chuang plant is starting a line, Pengzhou petrochemical plant is running steadily, Yangtze petrochemical PX plant is running normally, Jinling petrochemical plant is running steadily, Qingdao Lidong plant is running at full load, Qilu petrochemical plant is loading. Running stably, Urumqi Petrochemical Unit started about 50%, Hengli Petrochemical Unit operated normally, domestic p-xylene supply was normal, affected by the rise of external price, domestic p-xylene market price trend rose. This week, the opening rate of p-xylene plant in Asia is more than 70%, the supply of PX in Asia is normal. This week, the price of PX external market rises. By the end of the week, the closing price of p-xylene market in Asia is 793-795 US dollars/ton FOB Korea and 813-815 US dollars/ton CFR China. Affected by the rising international crude oil prices, the price of PX external market rose 15 US dollars/ton this week, and more than 50% of domestic products need to be imported. Export, PX external closing price has a positive impact on the domestic market, the domestic PX market price trend is rising.

Industry chain: This week’s domestic crude oil closing price rose slightly. As of November 11, the price of WTI crude oil futures market in the United States was $54.70 per barrel, Brent crude oil futures price was $60.51 per barrel. Overall, this week’s crude oil closing price rose, which has a certain cost support effect on the price of downstream petrochemical products, and the price trend of PX market rose. This week, the downstream PTA market price fluctuation, as of the end of the weekend, East China PTA market talks around 5100-5200 yuan self-lifting, the upstream raw material PX market price trend rose, PTA start-up load recently maintained about 87.5%, supply-side equipment overhaul and empty PX market, terminal demand slightly changed, polyester start-up remained stable. The downstream polyester start-up load is near 90%, and the start-up rate of Jiangsu and Zhejiang looms is kept at 78%. The profit of terminal textile texturing enterprises is not optimistic. The comprehensive starting rate of looms in Jiangsu and Zhejiang is around 78%, and the purchasing mood is general. The prices of Main polyester factories in Jiangsu and Zhejiang are stable, the terminal demand has not improved significantly, and the price rise of p-xylene market is limited.

Industry: This week’s textile industry trend remained volatile, textile industry start-up rate changed little, crude oil prices rose slightly, raw material PX market rose.

3. Future market forecast:

Chen Ling, an analyst with business association PX, believes that crude oil prices have been volatile in recent years, but PTA market prices have been weak, PX external prices have not changed much, downstream textile industry has maintained a high start-up rate, domestic PX market supply is normal, and the price of PX market is expected to maintain the level of 6,800 yuan/ton next week.