1、 Price trend
According to the bulk list data of business society, mixed xylene fell first and then rose this week, with a slight increase compared with last week. On December 3, the price was 5740 yuan / ton; On Friday (December 10), the price was 5840 yuan / ton, an increase of 0.17% over last week and 44.91% over the same period last year.
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2、 Analysis and review
This week, the international oil price rose by a wide margin, the cost side was boosted, the mixed xylene market rose, the enthusiasm was strong, and the price rebounded. However, poor downstream demand still restricts the rise of mixed xylene.
In the external market, the mixed xylene in the external market fell after rising this week. On Friday (December 10), the price of mixed xylene imported from South Korea was $708.5/t, up $16 / T or 2.31% month on month (December 3); the reference price of domestic imported mixed xylene was $736 / T, up $19 / T or 2.65% month on month (December 3).
In terms of crude oil, Saudi Arabia is expected to maintain strong crude oil demand in the future, and raised the official sales price of all crude oil grades in Asia and the United States in January. The market’s concern about the inhibition of crude oil demand by the new crown mutant strain Omicron eased, the price rebounded sharply, and the price returned to above $70 / barrel. Brent rose $5.27 / barrel, or 7.54% this week; WTI rose $5.41/barrel, or 8.16%.
Downstream, in the PX market, the domestic PX price this week was flat compared with the beginning of the week. On Friday (December 10), the domestic ex factory price of p-xylene was 6700 yuan / ton, an increase of 55.81% over the same period last year. As of December 10, the closing prices in Asia were 814-816 US dollars / ton, FOB Korea and 832-834 US dollars / ton CFR China.
In the ox market, the price of ox in East China fell broadly this week. On Friday (December 10), the price of ox in East China was 6300 yuan / ton, down 4.55% from last week and up 13.31% from the same period last year.
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In terms of gasoline, gasoline in Shandong rose first and then fell this week. The price was 7886.8 yuan / ton on December 3 and 7789.2 yuan / ton on December 10, down 1.24% from last week and 36.57% from the same period last year.
3、 Future forecast
In terms of crude oil, the market is still worried about the new crown variant strain Omicron. Many countries strengthen epidemic prevention and control measures. Before further determining its impact, the demand for crude oil will still be limited. 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.
Downstream demand continues to be light, and the price rise is blocked. The short-term mixed xylene price trend is obviously affected by external news. 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.
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