1、 Price trend

According to the data in the business club’s large list, the domestic market price of isomeric xylene fell sharply this week, as of Friday, down 7.22% month on week.

2、 Analysis and comment

1. Products: The overseas epidemic continues to spread, worrying about the shrinking demand for crude oil due to the economic recession, and adding OPEC + production increase expectations. Affected by this, the price of international crude oil fell sharply this week, as well as the price of xylene in the Korean market, the main source of imports. Although domestic enterprises gradually enter the resumption period and the market demand gradually improves, the price of domestic isomeric xylene still follows the decline. At present, in East China The main price is about 4600 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, the international oil price maintained a wide and volatile trend after plummeting at the beginning of this week. As of Friday, Brent futures fell 32.31%, Brent futures fell 28.09%, WTI futures fell 22.96% and Dubai futures fell 32.74%.

Downstream, in PX market, this week, the price of domestic Sinopec’s enterprises is about 5500 yuan / ton, and the latest price on the outside market is about 593 US dollars / ton for FOB South Korea and 611 US dollars / ton for CFR China. It is expected that PX market price will stabilize next week. In terms of PTA market, the price of domestic PTA spot market is about 3850 yuan / ton, and the price of external market is about 499 US dollars / ton CFR China. It is expected that PTA price will stabilize and rebound next week. In the ox market, Sinopec’s price of o-benzene fell, with the price at 5000 yuan / ton. The external price of o-benzene is about 625 US dollars / ton FOB South Korea. It is expected that o-benzene will stabilize and rebound next week.

3、 Future forecast

According to xylene analyst of business and chemical branch, we will continue to focus on the news of OPEC + production reduction agreement next week, worries about the global economy due to the continuous spread of overseas epidemic, the trend of international crude oil and the progress of downstream enterprises’ resumption of work. On the whole, it is expected that xylene prices in the international crude oil market and South Korean market will rebound next week, adding that domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. In the next week, xylene prices in the domestic market will stabilize and rebound. However, in the environment of high inventory of xylene industry and not smooth recovery of industrial chain, it is not optimistic to expect the rebound range.