I. price trend:
According to the data monitoring of business agency, the quotation of Sinopec orthobenzene contract is stable this week, and the market of orthobenzene is stable. As of November 29, the contract price of o-xylene Sinopec was 6200.00 yuan / ton, which was stable compared with the price of 6200.00 yuan / ton at the beginning of the week (November 25). The price is 16.22% lower than that of the same period last year.
II. Market analysis:
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Product analysis
This week, the price of benzene was volatile and fell. On November 29, the price of benzene in Europe was 860 US dollars / ton, down 5 US dollars / ton from last week. The external price of ortho benzene fell, the price of imported ortho benzene fell, the market of port ortho benzene fell, the inventory of port was low, the negative pressure on the market of ortho benzene in the future increased, and the positive momentum weakened. Sinopec’s listing price of o-xylene in East China is 6200 yuan / ton, the supply of o-xylene is stable, the purchasing enthusiasm of the downstream of o-xylene is general, the purchasing enthusiasm of o-xylene is poor, the favorable momentum of the future market of o-xylene is insufficient, and the downward pressure is weakened.
Factor analysis of industrial chain
This week, the price of mixed xylene fell in shock, mixed xylene market was negative, the decline of raw material price was negative for o-benzene market, o-benzene cost was reduced, o-benzene market was more negative and less positive, and the downward pressure of o-benzene market increased the upward momentum.
This week, the price of phthalic anhydride remained stable, the market of phthalic anhydride for o-benzene weakened, the price of naphthalene phthalic anhydride fell, the market of phthalic anhydride was negative, the market of the downstream of o-benzene fell, and the overall market was weaker, and the negative increased. In terms of plasticizers, this week’s weak DOP market fell, after the market downward pressure increased the upward momentum weakened. In the early stage, the market of phthalic anhydride, plasticizer and other downstream products recovered, which brought a certain upward momentum to the market of orthobenzene. However, this week, the market of downstream products weakened, the industry chain weakened, the bad news increased, the orthobenzene advantage weakened, and the downward pressure of the future market of orthobenzene increased, and the upward momentum weakened.
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3. Future forecast:
According to Bai Jiaxin, an analyst of o-xylene data of business association, the price of o-xylene raw materials mixed with xylene fell sharply this week, the cost of o-benzene fell, and the rising power of o-benzene market weakened; on the demand side, the market of o-phthalic anhydride fluctuated and remained stable this week, but the falling market of naphthalene phthalic anhydride was bad for o-phthalic anhydride, which affected the recovery of o-benzene market, the market of plasticizer slightly fell, and the downstream market of o-benzene In terms of external market, the price of external market of orthobenzene fell sharply this week, and the port inventory rose, which was negative for domestic orthobenzene market. To sum up, this week’s o-xylene market is more bearish and less favorable, and the upward momentum is weakened and the downward pressure is increased. The earlier recovery of o-xylene industry chain market has a certain upward momentum accumulation. Although the industry chain market is negative this week, it is not enough to change the stable trend of o-xylene, and it is expected that the future o-xylene market will be weak and stable.
The future market should focus on: the cost of o-benzene, the price trend of downstream phthalic anhydride and plasticizer. Attention can be paid to: the external plate of o-benzene.
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