Domestic price trend:

From the trend chart of p-xylene, it can be seen that the price trend of p-xylene increased in August. As of the end of the month, the domestic factory price of p-xylene was 9100 yuan/ton, an increase of 3.41% compared to the initial price of 8800 yuan/ton, and a year-on-year increase of 1.11%.

In August, the supply of paraxylene was relatively normal, with a domestic PX operating rate of over 70%. However, during the maintenance of some paraxylene units, there was little change in spot supply. In August, the international crude oil price fluctuated at a high level, and PX external market prices remained at a high level. As of the 27th, the closing prices in Asia were 1042-1044 yuan/ton FOB South Korea and 1067-1069 dollars/ton CFR China. Recently, the operating rate of PX devices in Asia has been mainly fluctuating. Overall, the operating rate of xylene devices in the Asian region is over 60%. The supply of PX goods in the Asian region has not changed much, and the domestic xylene market price trend has slightly increased.

The international crude oil prices in August were mainly volatile. As of the end of the month, the settlement price of the main contract for WTI crude oil futures in the United States was $80.10 per barrel, while the settlement price of the main contract for Brent crude oil futures was $84.42 per barrel. The crude oil prices in August slightly decreased by 2.0%. On the one hand, concerns about the prospects for global economic growth have put pressure on crude oil. On the other hand, the weak economic data in China has dragged down the oil market, coupled with the instability of the European and American banking industry, a decrease in risk appetite, and pressure on the oil market. However, crude oil production has decreased, and Russian oil exports did not meet the quarterly plan in July, which was lower than expected at 370000 barrels per day. Saudi Arabia may postpone its voluntary reduction of 1 million barrels per day until September; In addition, supply disruptions in Kazakhstan and Nigeria support oil prices. The news is mixed, with crude oil prices mainly fluctuating, and the domestic xylene market is limited in terms of growth.

In August, the domestic PTA spot market trend slightly increased, with an average price of 6082 yuan/ton in the East China market as of the end of the month, an increase of 0.75% compared to the price of 6036 yuan/ton at the beginning of the month. From the recent changes in PTA’s own equipment, restart and maintenance coexist, and the overall load has increased. Currently, the industry’s operating rate is around 80%, and Hengli Petrochemical’s Huizhou 2.5 million ton new project is gradually mass produced, with a boost in supply. The downstream terminal polyester maintains a high level of over 90% overall and starts construction. As raw materials rise, the cash flow pressure of polyester factories increases, and inventory pressure has increased, with short fiber inventory at a high level. The operating rate of Jiangsu and Zhejiang weaving machines at the terminal has slightly declined to below 63%, and the operating rate of Jiangsu and Zhejiang weaving machines has continued to decline. The pressure on polyester inventory and cash flow has increased, and the polyester load has decreased. Affected by the poor terminal market situation, the price increase in the domestic xylene market is limited.

Chen Ling, an analyst at Business Society PX, believes that the current supply side and demand side of the crude oil market will continue to play against each other. The downstream PTA market has slightly increased, and there has been no significant improvement in demand in the textile industry. Market expectations for demand are not optimistic, and crude oil support is strong. Overall, it is expected that the price trend in the xylene market will remain stable in the future.