1、 Price trend:
|PVA 2088 (PVA BP20)|
According to the data monitoring of the business agency, the price of o-xylene Sinopec contract fell again this week, affected by the collapse of crude oil again, and the price of o-xylene fell again this week. As of March 19, the contract price of o-xylene Sinopec was 4600.00 yuan / ton, down by 400 yuan / ton or 8% compared with the price of 5000.00 yuan / ton of o-xylene last week. The price is 32.35% lower than that of the same period last year. The price of o-benzene was sharply lowered again this week.
2、 Market analysis:
Crude oil prices plummeted again
It can be seen from the trend of crude oil price that the crude oil price has fallen sharply since March, of which Brent crude oil price has declined by 48.41% since March and WTI crude oil by 56.74% in March. The crude oil price dropped sharply and was transmitted to the downstream. The cost of raw materials for chemical products decreased, the cost of o-benzene decreased, and the price of o-benzene followed the decline. According to the trend of crude oil price this week, Brent crude oil price fell by 24.69% this week, and WTI crude oil fell by 35.8% this week. Crude oil price has repeatedly refreshed the historical low in recent years, and the cost of raw materials has declined, which makes the downstream products lose support and o-benzene market bearish.
3、 Future forecast:
According to Bai Jiaxin, an analyst with the data on xylene, crude oil prices plummeted again this week, setting a new low in recent years. The price of raw materials continues to plummet, which makes the cost of o-benzene drop sharply, and the space of o-benzene price drop increases. For the downstream, the start-up of the downstream enterprises is not getting better, and the capacity recovery is poor. The demand transaction is limited, and the market of orthobenzene is not good. Generally speaking, the market of ortho benzene is relatively negative, and there is no upward momentum in the future market of ortho benzene. It is expected that the market of ortho benzene in the future will mainly fall.