1、 Price trend
According to the bulk list data of business society, the price of mixed xylene rose this week. On July 25, the price of mixed xylene was 5860 yuan / ton; On Sunday (August 1), the price was 5900 yuan / ton, up 40 yuan / ton from last week, a narrow range of 0.68%; Compared with the same period last year, it increased by 68.09%.
2、 Analysis and review
Crude oil prices rose this week with good cost support, but due to weather and other factors, the demand for mixed xylene was limited and the price fluctuated in a narrow range. In terms of external market, as of July 30, the price of mixed xylene imported from South Korea was US $812 / T, up US $12 / T or 1.5% month on week compared with July 23; The reference price of domestic imported mixed xylene was US $833 / T, up US $16 / T or 1.96% month on month on July 23.
In terms of crude oil, the spread of isovirus strains dragged down the market mentality, but the inventory of crude oil and refined oil in the United States decreased, and the demand recovery was good, boosting the oil price. On July 16, Brent rose $2.23 / barrel, or 3.01%; WTI rose $1.88/barrel, or 2.61%.
In the downstream PX market, the domestic PX price remained stable for four consecutive weeks this week, with a year-on-year increase of 47.92% at 7100 yuan / ton. As of July 30, the closing prices in Asia were USD 940-942 / T FOB Korea and USD 958-960 / T CFR China.
In terms of PTA market, PTA in East China fell first and then rose this week, and the price increased compared with last week. On Friday (July 30), the price was 5541.82 yuan / ton, up 2.52% compared with last week and 55.21% compared with the same period last year.
In the ox market, the ox price remained stable this week. On Friday (July 30), the ox price in East China was 6200 yuan / ton, an increase of 40.91% over the same period last year.
3、 Future forecast
Xylene analysts from the chemical branch of business society believe that: at the supply cost side, the implementation of OPEC + production reduction, the total number of American oil drilling platforms 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, the economic and trade situation in Europe and the United States, etc. Third, look at the geopolitical situation in the Middle East, China and the United States, the progress of the new crown vaccine, the US dollar index and stock market linkage.
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The demand side continues to be tepid, the trend of crude oil on the cost side is still uncertain, and the trend of mixed xylene is expected to be deadlocked in the short term. Continue to pay attention to the trend of crude oil and external market, maintenance and inventory dynamics of mixed xylene unit and the impact of downstream demand on its price.