From the trend chart of para xylene, it can be seen that the price trend of para xylene has remained stable this week. As of the weekend, the domestic ex factory price of para xylene was 8300 yuan/ton, which is the same as the price of 8300 yuan/ton at the beginning of the week and the same as the same period last year.

The domestic supply of xylene is relatively normal, with a domestic PX operating rate of over 80%. A 750000 ton unit of Pengzhou Petrochemical has restarted, but some units are still undergoing maintenance, and spot supply is normal. This week, the international crude oil price trend has declined, and PX external prices have fallen due to this impact. As of the 7th, the closing price in Asia is 935-937 yuan/ton FOB South Korea and 960-962 US dollars/ton CFR China. Recently, the operating rate of PX plants in Asia has remained high. Overall, the operating rate of xylene plants in the Asian region is nearly 80%. The PX supply in the Asian region is sufficient, and the domestic xylene market prices are temporarily stable due to the impact of lower crude oil prices.

Recently, the international crude oil price trend has declined. As of the 7th, the settlement price of the main contract for WTI crude oil futures in the United States was $69.34 per barrel, and the settlement price of the main contract for Brent crude oil futures was $74.05 per barrel. The main reason is that the market is increasingly concerned about future energy demand, and the news is bearish for the crude oil market, with oil prices falling for six consecutive trading days. On the other hand, the US Energy Information Agency (EIA) regularly releases inventory data. Especially with the surge in gasoline inventories, this has exacerbated the bearish sentiment towards fuel demand in the market. The crude oil market has declined, and the domestic xylene market prices remain weak.

The domestic PTA spot market is mainly volatile, with an average price of 5694 yuan/ton in the East China market as of the weekend, an increase of 0.33% from the price of 5675 yuan/ton at the beginning of the week. From the recent changes in PTA equipment, it can be seen that the PTA equipment has been operating relatively steadily this week, with an industry operating rate of over 80%. The downstream polyester production load is above 87%, and cost support is weakening. The polyester filament market is cautious and cautious, with the consumption of early raw material stocking as the main focus, resulting in a stalemate in transaction focus. The trading atmosphere in the short fiber market is light, with many traders offering discounts on prices, and customers from yarn factories have limited orders and low purchasing willingness. The operating rate of Jiangsu and Zhejiang weaving has moderately decreased to around 75%, coupled with low profits from raw fabrics, it is expected that a small amount of raw materials will be purchased at a low price by the end of the month. The unfavorable downstream market is bearish for the xylene market, and the PX market trend is temporarily stable.

Chen Ling, an analyst at Business Society PX, believes that there is not much change in domestic PX supply. The upstream crude oil market is a long short game, and overall, crude oil prices are mainly fluctuating in the range. In the early stages of downstream PTA maintenance equipment, new equipment is being restarted and put into operation. With the decrease in downstream polyester production load, the PTA market is under pressure, and it is expected that the terminal’s sustained replenishment may be difficult to sustain. It is expected that the market price of xylene may slightly decline in the later stage.