China’s domestic price trend of p-xylene was temporarily stable on September 12

On September 12, the PX commodity index was 52.80, unchanged from yesterday, down 48.44% from its peak of 102.40 points in the cycle (2013-02-28), and up 15.92% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 12th. Hongrun 600,000 tons new plant was running steadily, Pengzhou Petrochemical Plant was running steadily, Urumqi Petrochemical Plant was started 50%, Fuhaichuang Aromatic Hydrocarbon Plant was starting a line, CNOOC Huizhou Refinery and Chemical Plant was overhauled, Hengli Petrochemical PX Plant was put into operation, and other units were running steadily. Temporarily stable operation, due to the normal domestic market supply of p-xylene, the market price trend of p-xylene is temporarily stable. The opening rate of PX plant in Asia is about 80%. The closing price of p-xylene in Asia increased by 2 US dollars/ton on September 11. The closing price is 772-774 US dollars/ton FOB in Korea and 791-793 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The rise of foreign prices has a positive impact on the domestic market price of p-xylene. The price trend of p-xylene in the market is stable for the time being.

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On September 11, WTI crude oil futures fell to $55.75 per barrel, or $1.65. Brent crude oil futures fell to $60.81 per barrel, or $1.57. Statistics released by the U.S. Energy Information Agency (EIA) on Tuesday showed that due to Saudi Arabia, the United Arab Emirates, Nigeria and Iraq, Brent crude oil futures fell to $60.81 per barrel. Increased production offset the production cuts in Venezuela and Libya. OPEC’s average daily oil production in August was 29.71 million barrels, an increase of 230,000 barrels compared with the average daily oil production in July. The decline in crude oil prices has a negative impact on downstream petrochemical products and temporarily stabilized the price trend of xylene market. Recently, the textile industry has been slightly lower, PTA market starting rate has risen, PTA price has slightly declined on the 12th day. The average price in East China has been raised near 5200-5300 yuan/ton. As of the 11th day, domestic PTA starting rate has risen to 97.7%, and polyester industry starting rate is about 90%. Due to the increase of PTA supply, the trading atmosphere has declined. Traders are the main buyers, sporadic polyester factories follow-up, downstream PTA market prices slightly lower, there are many negative factors in the market, it is expected that the price of PX market will maintain a low level in the short term.

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