On May 11, the PX commodity index was 32.00, which was the same as yesterday, setting a new low in the cycle, 68.75% lower than the highest point of 102.40 on February 28, 2013. (Note: cycle refers to 2013-02-01 till now)
According to statistics, the market price trend of p-xylene in China is temporarily stable, the operation of new 600000 ton plant in Hongrun is stable, the operation of petrochemical plant in Pengzhou is stable, 50% of petrochemical plant in Urumqi is started, one line of aromatics plant in Fuhai Chuang is started, CNOOC Huizhou refining and chemical plant is overhauled, the PX plant in Hengli Petrochemical is put into operation, other units are temporarily stable, and the operation rate of domestic p-xylene plant is stable In about 70%, the domestic market supply of p-xylene is normal, and the domestic market price trend of p-xylene is stable temporarily. The operating rate of PX plant in Asia is about 80%. On May 8, the closing price of PX market in Asia fell by 2 US dollars / ton, and the closing price was 470-472 US dollars / ton fob in South Korea and 490-492 US dollars / ton CFR in China. About 40% of PX needs to be imported in China. Recently, affected by the rise of crude oil price, the external price trend of PX fluctuated, and the price trend of PX market was temporarily stable.
As of August 8, WTI crude oil futures market price in the United States rose, and the settlement price of main contracts was 26.17 yuan / barrel, up $1.34. Brent crude oil futures market price rose, and the settlement price of main contracts was $30.97/barrel, up $1.51. The daily output of oil and gas condensate in Russia fell to 9.5 million barrels in the first five days of May, the first time since August 2009 to fall below 10 million barrels. Although the latest data shows that the daily output of Russian natural gas, including natural gas condensate, is only 1.296 million tons, it only lasted for a few days, This shows that Russia is fulfilling its commitment to reduce production under a global agreement. The rise of crude oil price has certain cost support for downstream petrochemical products, and the market price trend of p-xylene is stable.
| PVA |
In terms of downstream PTA, the price trend of domestic PTA spot market is volatile. As of May 11, the market average price is 3400-3500 yuan / ton, and PTA price slightly increased. On the premise of overseas resumption of work and crude oil production reduction, oil price is supported, but the short-term excess pressure of crude oil is hard to ease, and there is still pressure for oil price rebound; under the support of device maintenance and demand, domestic PX supply and demand margin is improved, but under the high storage pressure, the price is still suppressed, and the overall cost end support is limited. In terms of supply and demand, there is no sign of improvement for the terminal. In May, the pressure of polyester stock accumulation is large, and the contradiction between PTA supply and demand is still prominent. The expectation of stock accumulation is maintained, and the processing fee is expected to be reduced. Overall, in May, it was still suppressed by “three highs” (high startup, high inventory and high profit), and the price center fluctuated with crude oil, while the domestic p-xylene price trend was temporarily stable.
In the near future, the crude oil price trend is rising, the downstream PTA market price is slightly higher, and the downstream demand of the terminal is not significantly improved. The business analysts believe that the PX market price may or will be stable temporarily.
| POLYVINYL ALCOHOL |