Domestic p-xylene price trend:

As can be seen from the p-xylene trend chart, the market price trend of p-xylene this week was temporarily stable. As of the 12th, the ex factory price of domestic p-xylene was 7300 yuan / ton, which was the same as that at the beginning of the week, with a year-on-year increase of 69.77%.

Recently, the domestic p-xylene supply is normal, the domestic PX operating rate is more than 60%, the 600000 ton unit of Sinochem Hongrun Petrochemical operates stably, the unit of Yangzi Petrochemical operates stably, the unit of Pengzhou Petrochemical operates stably, the PX unit of Yangzi Petrochemical operates normally, the unit of Jinling Petrochemical operates stably, the unit of Qingdao Lidong operates at full load, and the unit of Qilu Petrochemical operates stably, About 50% of Urumqi petrochemical units have been started, and the domestic p-xylene supply is general, but some overseas units are still under maintenance. Due to the general downstream demand, the domestic p-xylene price trend remains stable. The closing price of international crude oil rose, and the external price of PX changed little. As of November 11, the closing prices were US $904-906 / T FOB Korea and US $922-924 / T CFR China. Recently, the operating rate of PX unit in Asia has been relatively stable. On the whole, the operating rate of p-xylene unit in Asia is more than 60%. The supply of PX goods in Asia is normal, and the closing price of PX has changed little, The domestic p-xylene market price trend is temporarily stable.

Crude oil prices rose slightly this week. The settlement price of the main contract of WTI crude oil futures in the United States was US $81.59/barrel, and the settlement price of the main contract of Brent crude oil futures was US $82.87/barrel. The international crude oil market was in a stalemate, mainly based on the concerns of us dollar strength and rising inflation expectations. However, the organization of Petroleum Exporting Countries and its allies (OPEC +) lowered their oil demand forecast for the fourth quarter of this year on Thursday, worried that high energy prices would drag down the pace of economic recovery. However, global demand continues to recover and energy shortage will continue in the short term. Although the price of natural gas in Europe has dropped, due to the substitution of oil, crude oil is in short supply. Especially in winter, heating will increase some demand. Medium and short-term demand will still be good for oil prices. Maintaining high oil prices will have a negative impact on the domestic petrochemical market, The price trend of p-xylene is temporarily stable.

The downstream PTA market price rose slightly this week. As of the 12th, the average PTA market price was 4900-5000 yuan / ton, and the PTA price rose by 1.2% this week. The PTA Market of raw materials rose slightly. In terms of units, Hengli Dalian 2.2 million tons began maintenance for about 20 days on November 5. Honggang Petrochemical’s 1.5 million tons unit plans to restart this weekend. Baihong 2.5 million tons plans to start maintenance for three weeks on December 1. Ineos 1.1 million tons unit plans to maintain maintenance for two weeks at the end of December. At present, the operating rate of the industry remains above 79%. The polyester Market in Jiangsu and Zhejiang downstream of the terminal is flat, the production and sales are poor, the enthusiasm for PTA procurement is not high, and the operating rate of the polyester industry is around 80%. The procurement is more cautious, mainly maintaining the procurement of just needed goods. The comprehensive startup rate of Jiangsu and Zhejiang looms is about 65%, with no obvious change. Recently, px-pta prices have been supported by the crude oil market, but the wait-and-see atmosphere of downstream factories has increased, the procurement enthusiasm is not high, the market situation of the textile industry is poor, and the market price trend of p-xylene is temporarily stable.

Chen Ling, PX analyst of business society, believes that the current crude oil price can be maintained, but the cost side support begins to weaken, the downstream PTA and textile market is poor, PTA stocks are accumulated, and the terminal demand is weak. It is expected that there is room for the market price of p-xylene to fall in the later stage.