1、 Price trend
| Azodicarbonamide (AC foaming Agent) |
According to the bulk list data of the business agency, the price of mixed xylene rose slightly this week. The price was 7370 yuan/ton on February 27; On March 5, the price was 7480 yuan/ton, up 1.49% from last week.
2、 Analysis and comment
In terms of crude oil, the overall trend of crude oil this week was fluctuating and upward. Russia has implemented a production reduction of 500000 barrels per day since March to deal with the western embargo and price ceiling on Russian crude oil goods. In addition, Russia’s European market share has almost disappeared, and it has been replaced by Asian long-distance destinations with higher cost and longer time. The export volume of seaborne crude oil to European countries fell to 113000 barrels per day. Crude oil exports to Nordic countries fell to 0, and exports to Mediterranean countries fell for three consecutive weeks, to an average of 162000 barrels per day.
Against the background of market worries about the global economic recession, there are still many uncertain factors in crude oil supply. The international crude oil supply as a whole has maintained a stable and tight state, among which, China’s crude oil consumption has always maintained a positive growth trend.
On March 5, the benchmark price of WTI crude oil was 78.16 USD/barrel, up 3.28% from the beginning of this month (75.68 USD/barrel); The benchmark price of Brent crude oil was US $84.75/barrel, up 3.30% from the beginning of the month (US $82.04/barrel).
In terms of external market, the price of mixed xylene in Asia showed an upward trend this week. On February 27, the price of mixed xylene imported from South Korea was 7470.5 yuan/ton, and on March 2, the price was 7563.5 yuan/ton, up 93 yuan/ton year-on-year, or 1.24%.
In terms of downstream px, the px market was stable this week. The price of PX was 8500 yuan/ton on February 27 and 8500 yuan/ton on March 5, which was the same as last week.
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In terms of OX, the price of OX in East China this week showed an upward trend, the price of mixed xylene in the upstream rose, the price of phthalic anhydride in the downstream rose, and the market in the upstream and downstream of the ox industrial chain warmed up. The price of OX was 8000 yuan/ton on February 27, and 8300 yuan/ton on March 5, with an increase of 3.75%.
In terms of gasoline, gasoline rose slightly this week, with the price of 8376.2 yuan/ton on February 27 and 8530.6 yuan/ton on March 5, up 154.4 yuan/ton or 1.84% from last week.
3、 Aftermarket forecast
Domestic and foreign oil prices gradually stabilized and recovered this week. By the close of Friday, Brent crude oil had risen by nearly 4%, WTI crude oil had risen by nearly 4.5%, and the main domestic crude oil contract 2304 had risen by nearly 3%. The international oil price is expected to return to the level of US $100 this year, and the recovery of Chinese demand is one of the most important driving forces. It is expected that the international oil price will rise before it falls next week.
The supply and demand situation of mixed xylene is improving. With the further improvement of the downstream PX, the domestic consumption of mixed xylene is expected to continue to increase. At the same time, the terminal consumption of gasoline in spring and the peak demand season of the chemical fiber industry will also gradually open. The terminal consumption of mixed xylene is expected to be optimistic and the advantage will not be reduced. Pay attention to the market trend of crude oil and gasoline, the impact of mixed xylene and downstream device dynamics, port inventory, external market, etc. on the price of mixed xylene.
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