On September 29, the PX commodity index was 52.80, unchanged from yesterday, down 48.44% from the peak of 102.40 points in the cycle (2013-02-28), and up 15.92% from the 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 29th. 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 market in Asia is stable on September 27. The closing price is US$779-781/ton FOB in Korea and US$798-800/ton CFR in China. More than 50% of the domestic units need to be imported. The fluctuation of foreign prices has a negative impact on the domestic market price of p-xylene. Domestic market price trend is temporarily stable.
On September 27, the price of WTI crude oil futures fell to $55.91 per barrel, or $0.50. Brent crude oil futures fell to $61.91 per barrel, or $0.83. Last month, the world’s third largest crude oil importer shipped about 1.32 million barrels of Iraqi oil a day, about one third more than in July, or about one third more than in August 2018. The price of crude oil declined, which had a negative impact on downstream petrochemical products and kept the price of xylene at a low level. Recent textile industry volatility, PTA market start-up rate maintained high, PTA price trend shocks, the average price of East China in the vicinity of 5100-5200 yuan/ton, up to 29 domestic PTA start-up rate of about 90%, polyester industry start-up rate of about 89%, due to the PTA market supply is sufficient, trading atmosphere is general, to buy by traders. Mainly, sporadic polyester factories follow-up, affected by crude oil price shocks downstream PTA market prices remain low, it is expected that the PX market price will maintain 6600 yuan/ton in the short term.