According to statistics, the trend of domestic p-xylene ex factory price was temporarily stable this week, with an average price of 4800 yuan / ton at the weekend, which was temporarily stable compared with the price of 4600 yuan / ton at the beginning of the week, with a year-on-year decrease of 34.29%.

The domestic PX operating rate is about 60%. The operation of Hongrun 600000 ton new unit is stable, Huizhou refining and chemical plant is stable, fuhaichuang plant is on the first line, Pengzhou petrochemical plant is running stably, Yangzi Petrochemical PX unit is running normally, Jinling Petrochemical plant is running smoothly, Qingdao Lidong unit is operating at full load, Qilu Petrochemical plant is running stably The start-up of Urumqi petrochemical plant is about 50%, and Hainan refining and Chemical Co., Ltd. has started a production line. Hengli petrochemical plant is in normal operation, the domestic p-xylene supply is normal, and the domestic p-xylene market price trend is temporarily stable. This week, the operating rate of PX units in Asia is about 70%, and the supply of PX goods is normal in Asia. This week, the price trend of PX external market is mainly volatile. As of the end of the week, the closing prices of PX market in Asia are 532-534 USD / T FOB Korea and 550-552 USD / T CFR China. This week, the external price of PX has not changed much. More than 40% of domestic products need to be imported, and the closing price of PX external market is shocked Swing to the domestic market to bring a certain support impact, domestic PX market price trend temporarily stable.

This week, the US WTI crude oil futures market price mainly fluctuated. As of the 20th, the settlement price of the main contract in the US WTI crude oil futures market was at US $42.82/barrel, while that of the Brent crude oil futures market was US $44.90/barrel. The main reason for this was that OPEC + oil producing countries needed to solve over 2 million barrels / day of excess supply, and the number of new US jobless claims increased unexpectedly, It shows that the process of economic recovery is slow, crude oil price trend is volatile, and domestic p-xylene market price trend is temporarily stable.

The price trend of downstream PTA market declined this week. As of the end of the week, the PTA Market in East China had been negotiated at 3500-3600 yuan. Recently, the starting load of PTA industry was 87%. During the week, PTA parking and maintenance devices entered the restart stage, and there was a small increase in the supply side. Although the terminal orders recovered, the market’s expectation for foreign trade weakened and the support from the demand side was insufficient. In addition, the market still has some concerns about crude oil demand, so it shows a weak downward trend. In addition, the inventory is still at a high level. As the current social inventory is still at nearly 4 million tons, and the continuous restart of the units leads to the limited storage duration, PTA social inventory pressure is still large, and the PX price trend is stable.

On the whole, the demand of textile industry has not improved significantly, the order performance is not stable, and the terminal demand is poor. For upstream Px, on-demand procurement is the main factor, and the price trend of PX market is stable.

Chen Ling, PX analyst of business agency, thinks that the recent trend of crude oil price is volatile, but the operating rate of downstream textile enterprises is general, PTA market price is falling, and domestic PX market supply is normal. It is expected that PX market price will maintain about 4600 yuan / ton next week.