China’s domestic price trend of p-xylene was temporarily stable on April 22

On April 21, the PX Commodity Index was 67.20, unchanged from yesterday, down 34.38% from its peak of 102.40 points in the cycle (2013-02-28), and up 47.53% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

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Recently, the domestic market price trend of p-xylene has been temporarily stable. Pengzhou Petrochemical Plant has been running steadily in the field. Urumqi Petrochemical Plant has started 50% of its operation. Fuhai Aromatic Hydrocarbon Plant has started a line. CNOOC Huizhou Refinery and Chemical Plant has been overhauled. Hengli Petrochemical PX Plant has been put into operation. Other units have been running steadily for the time being. Due to the increase of domestic market supply of p-xylene, the market for p-xylene has increased. Price trend is stable for the time being. The opening rate of PX plant in Asia is about 80%. The market of p-xylene in Asia is closed on April 19. The closing price of the previous trading day was US$947-949/ton FOB in Korea and US$966-968/ton CFR in China. More than 50% of the domestic units need to be imported. The low price of foreign units has a negative effect on the domestic market price of p-xylene. The price trend of p-xylene in the market is temporarily stable.

On April 19, the crude oil price was closed, the June futures market of WTI crude oil in the United States was closed at $64.00 per barrel, and the June futures market of Brent crude oil was closed at $71.97 per barrel. The trend of crude oil price was volatile. The price of downstream petrochemical products lost some cost support, while the price of p-xylene market was temporarily stable. Recent textile industry volatility, PTA price trend maintained low on 22nd, East China average offer in the vicinity of 6500-6600 yuan/ton, up to 19 domestic PTA start-up rate of about 80%, polyester industry start-up rate of about 90%, downstream production and sales rate maintained high, but PTA market price changes little, is expected to lower PX market price in the later period.

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