According to the Commodity Market Analysis System of Business Society, the mixed xylene market has slightly increased recently (3.18-3.27). On March 27th, the benchmark price of mixed xylene was 7520 yuan/ton, an increase of 1.21% from 7430 yuan/ton on March 18th.
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The high volatility of international crude oil prices provides some support for the cost of mixing xylene
Recently (3.18-3.27), under the resonance of multiple factors, the international crude oil has fluctuated at a high level, which still provides some support for the cost of mixed xylene. As of March 26th, WTI05 contract settlement is $81.62 per barrel; Brent 06 contract settlement is $85.63 per barrel. The high volatility of Asian mixed xylene prices provides support for the domestic market, with prices of heterogeneous grade xylene in Asia ranging from $952 to $953 per ton as of March 26th.
Mixed xylene port inventory slightly decreases, supply pressure slightly alleviates
The inventory of mixed xylene at ports has slightly decreased, but the supply pressure remains at a high level. It is understood that as of March 22, the total inventory of xylene in East and South China was 96500 tons, which continued to decline slightly from 101000 tons on March 15.
High demand for xylene production supports mixed xylene production
There is sufficient domestic spot supply of xylene, and international crude oil prices rose and then fell within the week. PX external prices also rose and fell, with an overall downward trend. As of the 22nd, the closing prices in the Asian region were 998-1000 yuan/ton FOB South Korea and 1023-1025 US dollars/ton CFR China. Recently, the operating rate of PX plants in Asia has remained high, with an overall operating rate of nearly 80% for xylene plants in the Asian region. The supply-demand contradiction of PX supply in the Asian region has become apparent, and the domestic xylene market prices have declined.
The production of phthalic anhydride continues around 60%, and the demand for mixed xylene is stable, moderate, and weak
The operation of domestic phthalic anhydride plants is stable, with a recent operating rate of around 60%. The spot supply of phthalic anhydride is normal, and the sales situation of phthalic anhydride manufacturers is average. However, the recent maintenance of naphthalene phthalic anhydride plants has not been as expected, and the price of naphthalene phthalic anhydride is mainly stable. As a result, the price trend of ortho phthalic anhydride is temporarily stable
The domestic mixed blending market is recovering slowly, and the demand for mixed xylene continues to be weakly supported
The recovery of the domestic mixed blending market is slow, and the demand for mixed xylene is weak. As of mid March, the operating rate of refineries nationwide is around 7.3.
Expected decrease in supply of mixed xylene for planned maintenance of multiple devices
Overall, the expected decline in the supply of mixed xylene in the later period provides some support for the mixed xylene market.
Market forecast: In the short term, international crude oil will consolidate at a high level, with some support for the cost of mixed xylene; The downstream polyester industry has strong support for the high starting point, but the support for the phthalic anhydride and blending industries is relatively weak; Multiple domestic devices are scheduled for maintenance in the later stage, and the supply of mixed xylene is expected to decline. Overall, it is expected that mixed xylene will continue to rise in the later stage.
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