Demand improvement is limited, xylene price slightly fluctuated this week (may 11-may 17)

1、 Price trend


According to the data of the large scale list of business agencies, the domestic xylene market price fluctuated slightly this week. As of Friday, the domestic average price was about 3430 yuan / ton, down 3.65% on last week.


2、 Analysis and comment


1. Product: as Europe and the United States gradually liberalize the restrictions on the epidemic blockade, global demand is expected to improve, but the overall demand is still insufficient. Affected by this, the domestic xylene price is adjusted by shocks this week. At present, the mainstream price in East China is about 3570 yuan / ton.


2. Industrial chain:


sodium persulphate

Upstream, in terms of crude oil, supported by Saudi Arabia, the United Arab Emirates and Kuwait taking the lead in reducing production, the three major crude oil market reports show that the current oversupply situation has eased. At the same time, with the gradual release of restrictions on the epidemic blockade in Europe and the United States, global crude oil demand is expected to improve. Affected by this, this week’s oil price rebound. However, the market is still worried about the risk of a second outbreak, and the weak economic outlook of the United States still limits the rise of oil prices. Generally speaking, early signs of gradual recovery of oil market balance can be seen, but uncertainty in the oil industry still exists. As of early Friday morning, Brent futures rose 29.62%, Brent futures 17.68%, WTI futures 17.41% and Dubai futures 25.12%.


Downstream, in PX market, the price of domestic Sinopec’s enterprises this week is about 4000 yuan / ton, and the latest price on the outside market is about 467 US dollars / ton for FOB South Korea and 485 US dollars / ton for CFR China. It is expected that the market price of PX will maintain a stable trend in the short term. In terms of PTA market, the price of domestic PTA spot market is about 3450 yuan / ton, and the price of external market is about 417 US dollars / ton CFR China. It is expected that PTA price trend will be stable next week. In the ox market, Sinopec’s offer of o-benzene is stable, with the price of 4000 yuan / ton. The external price of o-benzene is about 455 US dollars / ton FOB South Korea. It is expected that the price of o-benzene will be stable next week.


3、 Future forecast


According to xylene analysts from the chemical branch of business society, in the short term, we can see the supply cost end, OPEC + production reduction, crude oil futures delivery trend in June, and the situation in the US and Iraq. In the medium term, we can see the demand side, the progress of economic restart in Europe and the United States, and the progress of industrial chain recovery. Next week, we will focus on the impact of the delivery trend of crude oil futures in June. Comprehensively, it is expected that the xylene price in the domestic market next week will depend on the trend of crude oil, with great uncertainty.

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