I. price trend
According to the data of the business club’s large list, the market turnover slightly shrank, the mentality was cautious, and the inventory remained low. This week, the domestic isomeric xylene market slightly increased by about 0.4%.
II. Analysis and comment
1. Products: compared with last week, the market transaction is stable this week. At present, the mainstream price in East China is about 6180-6230 yuan / ton. According to the feedback from traders, last week’s trading volume was average, and the port inventory remained low, about 21000 tons.
2. Industrial chain:
Upstream, in terms of crude oil, this week’s oil prices were generally volatile, with Brent up 1.95% at sight, Brent futures up 0.33%, WTI futures up 1.30% and Dubai futures up 0.31%.
In the downstream, PX market, the domestic PX price trend this week is temporarily stable, while the external market trend is stable. The price is about 768-770 US dollars / ton FOB South Korea and 788-790 US dollars / ton CFR China. It is expected that the market price of PX will maintain about 6800 yuan / ton in the short term. In terms of PTA market, the domestic PTA spot market is a little tight this week, but due to the news of new production capacity and production, and the weak trend
of raw material market, the PTA market is mainly weak in the short term. In the ox market, Sinopec’s o-benzene price is temporarily stable, with a quotation of 6200 yuan / ton. The external quotation of o-benzene is stable, and it is expected that the weak market of o-benzene will be adjusted in the future.
III. future forecast
According to xylene analyst of business and chemical branch, we will continue to focus on market turnover and port inventory next week, as well as the progress of Sino-U.S. trade negotiations, and the expected fluctuation of crude oil demand due to the weak prospect of global economic indicators. In general, toluene market is expected to continue the shock correction trend next Tuesday.