The price of mixed xylene rose slightly in the week (2021.6.28-7.4)

1、 Price trend

According to the data of business news agency’s block list, the price of mixed xylene rose slightly this week. On June 27, the price of mixed xylene was 5880 yuan / ton; The price of this Sunday (July 4) was 5920 yuan / ton, up 40 yuan / ton or 0.68% from last week; It was 60.87% higher than that of the same period last year.

2、 Analysis and comment

Crude oil prices remained high, with good support, but domestic demand for mixed xylene was insufficient, with limited growth. Within the week, due to the limitation of automobile transportation in the northern region, the market turnover decreased, and the price remained weak and volatile. In terms of external market, as of July 2, the price of imported mixed xylene from South Korea was 780.5 US dollars / ton, down 12 US dollars / ton, or 1.51%, compared with June 25; The reference price of domestic imported mixed xylene was US $801 / T, down US $5 / T or 0.62% on June 25.

In terms of crude oil, the market is optimistic about the recovery of crude oil demand. U.S. crude oil inventories continue to decline. OPEC + may start to increase production in August, but no agreement has been reached on the latest policy. International oil prices are mixed. On June 25, Brent fell 0.01% to a new $0.01/barrel; WTI rose $1.11 per barrel, or 1.5%.

Downstream, PX market, domestic PX prices rose sharply this week, at 7100 yuan / ton, 9.23% higher than last week, 47.92% higher than last year. As of July 2, closing prices in Asia were $903-905 / T FOB Korea and $921-923 / T CFR China.

In terms of PTA market, the price of PTA in East China fell in shock this week. On Friday (July 2), the price was 5087.27 yuan / ton, down 1.4% from last week and up 40.19% from the same period last year.

In terms of ox market, the price of ox this week was flat compared with last week. On Friday (July 2), the price of ox in East China was 6200 yuan / ton, up 39.01% compared with the same period last year.

3、 Future forecast

Xylene analysts from business society chemical branch think: first, look at the supply cost side, the implementation of OPEC + production reduction, the total number of oil drilling platforms in the United States, and weekly EIA and API inventory data. Second, on the demand side, the impact of the global epidemic on crude oil demand, the progress of industrial chain recovery, and the economic and trade situation in Europe and the United States. Third, look at the geopolitical situation in the Middle East, China and the United States, the progress of new technology, the dollar index and stock market linkage.

The prospect of crude oil market is good, and the support of p-xylene is good; Downstream PX market is good, or more mixed xylene market has a certain drive. Overall, the recovery of automobile transportation in the northern region may have some support for the mixed xylene market, with the possibility of rising. We will continue to pay attention to the impact of crude oil, external market trend, xylene plant maintenance trends, port inventory and downstream demand (gasoline market).

POLYVINYL ALCOHOL