1、 Price trend

According to the bulk list data of business society, the price of mixed xylene fluctuated and fell this week. On November 5, the price of mixed xylene was 6340 yuan / ton; On Friday (November 12), the price was 6220 yuan / ton, down 1.89% from last week; Compared with the same period last year, it increased by 79.77%.

2、 Analysis and review

Crude oil fluctuated on the cost side, the guidance was not strong, the market focus turned to the demand side, the downstream demand was weak, coupled with the increase of cargo supply, mixed xylene continued to decline during the week. In the middle of the week, affected by the weather, the logistics in Shandong was blocked and the price rose slightly.

In the external market, the mixed xylene in the external market rose slightly this week and fell broadly. On Friday (November 12), the price of mixed xylene imported from South Korea was 790.5 US dollars / ton, down 22 US dollars / ton or 2.71% month on week compared with November 5; The reference price of domestic imported mixed xylene was US $817 / T, down US $20 / T or 2.39% month on month on November 5.

Crude oil fell sharply this week. U.S. crude oil inventories continued to increase, the U.S. dollar jumped, and OPEC + lowered its oil demand forecast for the fourth quarter, suppressing oil prices. However, the end of international travel restrictions in the United States and the adoption of the trillion dollar infrastructure bill gave a positive boost to the market. The demand for crude oil may grow, and the market is worried about supply or shortage. On November 5, Brent fell 0.57 USD / barrel, or 0.69%; WTI fell US $0.48/barrel, or 0.59%.

In the PX market, the domestic PX price continued to stabilize this week, with the price at 7300 yuan / ton, an increase of 69.77% over the same period last year. As of November 12, the closing prices in Asia were US $905-907 / T FOB Korea and US $923-925 / T CFR China.

In the ox market, the ox price in East China stabilized this week. On Friday (November 12), the ox price in East China was 7200 yuan / ton, an increase of 63.64% over the same period last year.

In terms of gasoline, gasoline prices in Shandong fell this week. On November 12, the price was 7810.8 yuan / ton, down 0.96% from last week and up 48.81% from the same period last year.

3、 Future forecast

In terms of crude oil, tight crude oil supply still exists, short-term long short game, and the trend of crude oil fluctuates. Continue to pay attention to the impact of the global epidemic, OPEC + decisions on crude oil production, the inventory dynamics of crude oil and refined oil in the United States, and the global economic situation on crude oil prices.

The trend of crude oil fluctuated, the upward momentum weakened, and the support for mixed xylene weakened. Downstream PX device maintenance, demand softened again. On the whole, the stalemate of mixed xylene negotiation is still, and it is possible to continue to decline. Pay attention to mixed xylene port and plant dynamics, downstream market and plant dynamics, as well as the impact of crude oil, external market and other trends on mixed xylene prices.