On March 12, the PX Commodity Index was 72.00, unchanged from yesterday, down 29.69% from its peak of 102.40 points in the cycle (2013-02-28), and up 58.07% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).
Recently, the domestic market price trend of p-xylene has been temporarily stable. Pengzhou Petrochemical Plant has been running steadily. Urumqi Petrochemical Plant has started 50% of its operation. Fuhaichuang Aromatic Hydrocarbon Plant has started a line. CNOOC Huizhou Refinery and Chemical Plant has been overhauled. Other units have been running steadily for the time being. The domestic market supply of p-xylene is normal. The market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. On March 12, the closing price of p-xylene market in Asia rose by $1/ton. The closing price was $1100-1102/ton FOB in Korea and $1119-1121/ton CFR in China. More than 50% of domestic imports are needed. The decline of foreign prices has a negative impact on domestic market price of p-xylene, and the price of p-xylene in the market fluctuates.
On March 12, the price of WTI crude oil in April rose to $56.87 per barrel, an increase of $0.08. Brent crude oil in May rose to $66.67 per barrel, an increase of $0.09. The price of crude oil rose slightly, which had little effect on the price of downstream petrochemical products, while the price of paraxylene was stable. Recent textile industry volatility, PTA prices declined on the 13th. The average price of East China bid was raised near 6600-6700 yuan/ton. As of the 13th day, domestic PTA start-up rate was about 84%, polyester industry start-up rate was about 80%, downstream production and sales rate increased, but PTA market prices were lower, and it is expected that the price of PX market will remain volatile in the later period.