1、 Price trend
| povidone Iodine |
According to the data of the bulk list of business cooperatives, the overall trend of mixed xylene fell this month, the price rebounded slightly in the middle of the month, and the decline widened in the last ten days. The price of mixed xylene was 8180 yuan/ton on November 1 and 7540 yuan/ton on November 28, down 7.82% from the beginning of the month and up 24.63% from the same period last year.
2、 Analysis and review
Due to the tight supply of mixed xylene in the early stage, the price is relatively high compared with toluene. However, under the background of poor overall downstream demand and weak market negotiation, crude oil fell broadly in the month and the cost lost its support, leading to a short mentality of the industry. The price of mixed xylene fell and the decline widened at the end of the month.
In terms of crude oil, although the news of Saudi Arabia’s production reduction in the month brought good news, the economic data of many countries was weak, and the Federal Reserve still had the possibility of significantly increasing interest rates. In addition, some parts of Asia were affected by the epidemic, which dragged down demand. Market participants weighed the prospects of energy supply and demand, and crude oil fell sharply this month. As of November 28, Brent fell by 11.64 dollars/barrel, or 12.27%; WTI fell by 9.29 dollars/barrel, or 10.74%.
In terms of external market, Asian mixed xylene in external market fell by more than 10% this month. On November 28, the price of mixed xylene imported by South Korea was 837 dollars/ton, down 148 dollars/ton month on month, or 15.02%.
| Azodicarbonamide (AC foaming Agent) |
In terms of PX market, the domestic PX price stabilized this month. The price at the beginning of the month was 8600 yuan/ton, and the price at the end of the month was 8600 yuan/ton, which was the same as that at the beginning of the month and increased by 17.81% compared with the same period last year.
In terms of OX market, the price of OX in East China fell broadly this month, at 9300 yuan/ton at the beginning of the month and 8500 yuan/ton at the end of the month, 8.6% lower than the beginning of the month and 23.19% higher than the same period last year.
In terms of gasoline, the overall gasoline price in Shandong Province fluctuated positively in the first half of this month, and began to fall next month. The price at the beginning of the month was 8159 yuan/ton, and the price at the end of the month was 7919 yuan/ton, down 2.94% from the beginning of the month and 1.82% from the same period last year.
3、 Future market forecast
On the cost side (crude oil), the price ceiling of Western crude oil exports to Russia has not yet been finalized. In addition, the epidemic prevention and control in some parts of Asia have affected demand. The Federal Reserve still expects to raise interest rates, and the future trend of oil prices is under pressure. However, OPEC’s adherence to the policy of reducing production may boost oil prices to some extent. It is expected that international oil prices will continue to play a long short game. In the future, we will continue to pay attention to the geopolitical situation, the latest production capacity policy of OPEC+, the stock dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.
The fundamentals of the mixed xylene market are not good, the short-term trend of crude oil is weak, and the demand is weak. Under the pressure of a negative atmosphere, it is expected that there is still a possibility of decline. 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 prices.
| http://www.lubonchem.com/ |