1、 Price trend

According to the bulk list data of business society, the price of mixed xylene fell continuously this week. On November 26, the price of mixed xylene was 6050 yuan / ton; On Friday (December 3), the price was 5740 yuan / ton, down 5.12% from last week; Compared with the same period last year, it increased by 54.3%.

2、 Analysis and review

This week, the international oil price fluctuated and fell, the mixed xylene in Asia fell broadly, the external news was bad, and the mixed xylene price followed the decline. Weak downstream demand and light market negotiation atmosphere; And by the impact of low-cost supply, the shipment pressure increases.

In the external market, the mixed xylene in the external market rebounded slightly after a wide decline this week. On Friday (December 3), the price of mixed xylene imported from South Korea was US $692.5/t, down US $70 / T, or 9.18%, compared with November 26; The reference price of domestic imported mixed xylene was US $717 / T, down US $72 / T or 9.13% month on month on November 26.

Crude oil fell sharply this week. Last week, a new variant of COVID-19, which was discovered in South Africa and other countries, triggered a sell-off of financial assets, exacerbating concerns about oil demand and oil prices. The OPEC + meeting within the week decided to maintain the original production increase plan and boost oil prices. Brent fell $2.84 / barrel, or 3.91% this week; WTI fell $1.89/barrel, or 2.77%.

Downstream, in the PX market, the domestic PX price fell this week. On Friday (December 3), the domestic ex factory price of p-xylene was 6700 yuan / ton, down 8.22% from the beginning of the week and up 55.81% year-on-year. As of December 3, the closing prices in Asia were USD 795-797 / T FOB Korea and USD 813-815 / T CFR China.

In the ox market, the price of ox in East China fell this week. On Friday (December 3), the price of ox in East China was 6600 yuan / ton, down 4.35% from last week and up 17.44% from the same period last year.

In terms of gasoline, gasoline in Shandong fell this week. The price was 8066 yuan / ton on November 26 and 7886.8 yuan / ton on December 3, down 2.22% from last week and up 47.11% from the same period last year.

3、 Future forecast

In terms of crude oil, the market continues to pay attention to the impact of the mutant strain Omicron on crude oil and economy. OPEC + maintains the original planned increase in production or continues to boost oil prices. It is expected that the oil price will fluctuate in the short term and there is room for rebound. Continue to pay attention to the impact of the global epidemic, OPEC + decisions on crude oil production, the inventory dynamics of U.S. crude oil and refined oil, and global economic conditions on crude oil prices.

In the short term, crude oil maintained a weak trend and lacked support for mixed xylene market. Mixed xylene port inventory continued to rise, the downstream demand side was insufficient, and the negotiation was light. Overall, the trend of mixed xylene will continue to decline weakly next week. 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.