1、 Price trend
According to the bulk list data of business society, mixed xylene rebounded slightly at the end of the month after a wide decline this month. On April 1, the price of mixed xylene was 7720 yuan / ton; On April 28, the price was 7330 yuan / ton, down 5.05% from the beginning of the month and up 25.3% from the same period last year.
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2、 Analysis and comment
Affected by public health incidents, logistics and transportation in many places in China are blocked, some reservoir areas in East China are blocked, market transactions are light, and the mentality of operators is pessimistic. As the demand for xylene in the lower reaches of Shandong rebounded, the demand for xylene in the middle and lower reaches of Shandong rebounded in the second half of the year. However, there was no active air filling operation in the downstream before the festival, and the price fell slightly at the end of the month.
In terms of crude oil, under the influence of the political situation in Russia and Ukraine, crude oil has experienced a sharp rise and fall, and the EU embargo on Russian oil has become a market concern. As of April 28, Brent fell 0.32 USD / barrel, or 0.3%; WTI rose $5.08/barrel, or 5.07%.
In terms of external trading, mixed xylene in Asia fell in shock this month. On April 28, the price of mixed xylene imported from South Korea was 1080.5 US dollars / ton, down 24 US dollars / ton month on month, down 2.17%; The reference price of domestic imported mixed xylene was 1096.5 US dollars / ton, down 22 US dollars / ton month on month, down 1.97%.
In the PX market, the domestic PX price stabilized this month and fell broadly at the end of the month. The price was 9300 yuan / ton at the beginning of the month and 8900 yuan / ton at the end of the month. The price fell by 4.3% compared with the beginning of the month and increased by 39.06% compared with the same period last year.
In terms of ox market, the price of ox in East China fell broadly this month, with the price at 9000 yuan / ton at the beginning of the month and 8200 yuan / ton at the end of the month, down 8.89% from the beginning of the month and up 38.98% from the same period last year.
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In terms of gasoline, gasoline in Shandong rose sharply in the second half of this month after a shock decline. The price was 8775 yuan / ton at the beginning of the month and 8800.8 yuan / ton at the end of the month, an increase of 0.29% over the beginning of the month and 18.04% over the same period last year.
3、 Future forecast
The cost side (crude oil), the situation between Russia and Ukraine and the uncertainty of the EU on the prospect of banning the import of Russian oil are still the main factors affecting the oil price, and the trend of crude oil in May continues to fluctuate violently. In the future, we will continue to pay attention to the geopolitical situation, OPEC + decision on output, the inventory dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.
The short-term logistics transportation and demand still restrict the trend of mixed xylene. If the logistics recovers in the later stage, the demand for mixed xylene may improve, and the price may rise. Continue to pay attention to the impact of crude oil market, external market trend, mixed xylene unit dynamics, port inventory and downstream demand on mixed xylene price.
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