According to statistics, the price trend of domestic p-xylene factory was temporarily stable this week, with an average price of 4600 yuan / ton at the weekend, which was temporarily stable compared with the price of 4600 yuan / ton at the beginning of the week, with a year-on-year decrease of 30.3%.

The domestic PX operating rate is about 60%. The operation of Hongrun 600000 ton new unit is stable, Huizhou refining and chemical plant is stable, fuhaichuang plant is on the first line, Pengzhou petrochemical plant is running stably, Yangzi Petrochemical PX unit is running normally, Jinling Petrochemical plant is running smoothly, Qingdao Lidong unit is operating at full load, Qilu Petrochemical plant is running stably The start-up of Urumqi petrochemical plant is about 50%, and Hainan refining and Chemical Co., Ltd. has started a production line. Hengli petrochemical plant is in normal operation, the domestic p-xylene supply is normal, and the domestic p-xylene market price trend is temporarily stable. This week, the operating rate of PX plant in Asia is about 70%. The supply of PX goods in Asia is normal. The price trend of PX in external market this week is declining. As of the end of the week, the closing price of PX market in Asian region is 518-520 USD / T FOB Korea and 536-538 USD / T CFR China. This week, the external price of PX has dropped slightly. More than 40% of domestic products need to be imported, and the closing price of PX external market is lower Domestic market has brought a certain negative impact, domestic PX market price trend is temporarily stable.

The U.S. WTI crude oil futures market price fell slightly this week. As of the 24th, the settlement price of the main contract in the U.S. WTI crude oil futures market was at $40.31/barrel, and the settlement price of the main contract in the Brent crude oil futures market was at $42.46/barrel. According to relevant news, OPEC production cuts and US production reductions are expected to help global crude oil inventories continue to decline for the rest of this year and most of next year, thus making the global oil market relatively balanced by the end of 2021. EIA estimates that the OPEC production reduction agreement and other regions’ production decline (mostly in North America) have led to global supply falling below the demand level for the first time since mid-2019. EIA pointed out that this supply gap has helped the huge global inventory decline since June, and the international crude oil price trend has declined slightly, which is a negative impact on domestic petrochemical products, and the domestic market price of p-xylene The trend is stable for the time being.

This week, the price trend of downstream PTA market dropped sharply. As of the end of the weekend, the PTA Market in East China had been negotiated at 3400-3450 yuan. Recently, the starting load of PTA industry was 87%. The restart of its own device, the fall of oil price and the recovery of demand were limited. The superposition of negative factors led to the decline of PTA price. Downstream polyester market is weak, production and sales are light. Raw materials fell with crude oil, polyester Market wait-and-see atmosphere increased, demand weakened. Inventory continued to rise, polyester market overall inventory concentrated in 33-41 days; specific products, POY inventory to 12-18 days, FDY inventory to 23-35 days, and DTY inventory to 31-44 days. The price of the factory is stable and weak, and some factories are willing to negotiate on a preferential basis. The downstream market is not good, and the PX price trend is stable temporarily.

On the whole, the demand of textile industry has not improved significantly, the order performance is not stable, and the terminal demand is poor. For upstream Px, on-demand procurement is the main factor, and the price trend of PX market is stable.

Chen Ling, PX analyst of business agency, thinks that the recent trend of crude oil price has fallen, but the operating rate of downstream textile enterprises is general, PTA market price is falling, domestic PX market supply is normal, and it is expected that PX market price will decrease slightly next week.