Price trends:

According to statistics, this week’s domestic ex-factory price of p-xylene showed a temporary steady trend, with an average weekend price of 7,000 yuan/ton, a temporary steady trend compared with the price of 7,000 yuan/ton at the beginning of the week, down 7.89% year-on-year.

II. Market analysis:

Products: This week, the domestic market price trend of p-xylene is stable, the domestic PX start-up rate maintains more than 70%, Huizhou refining and chemical plant runs steadily, Fuhaichuang plant starts a line, Pengzhou Petrochemical plant runs steadily, Yangtze Petrochemical PX plant runs normally, Jinling Petrochemical plant runs smoothly, Qingdao Lidong plant runs at full load, Qi Luzhou Petrochemical Unit runs steadily, Urumqi Petrochemical Unit starts about 50%, Hengli Petrochemical Unit runs normally, domestic p-xylene supply is normal, recent international crude oil prices rise, domestic market price trend of p-xylene is temporarily stable. The opening rate of p-xylene plant in Asia is more than 70% this week. The supply of PX in Asia is normal. The price of PX external market rose this week. By the end of the weekend, the closing price of P-xylene market in Asia was US$869-871/ton FOB Korea and US$888-890/ton CFR China. Over 50% of domestic products need to be imported. The closing price of PX external market was US$888-890/ton CFR China. The rise has brought some benefits to the domestic market, and the price trend of the domestic PX market is temporarily stable.

Industry Chain: Domestic crude oil prices closed higher this week. As of November 11, US WTI crude oil futures price was $60.20 per barrel, Brent crude oil August futures price was $66.52 per barrel. This week, crude oil closing price rose slightly, which has a certain cost support role for downstream petrochemical products. PX market price trend is temporarily stable. This week, the downstream PTA market price trend slightly declined. This week, the decline was 0.82%. By the end of the weekend, the East China PTA market talks were around 6550-6650 yuan. The upstream raw material PX market price trend was stable. This week, the PTA plant start-up rate maintained about 90%, while the downstream polyester plant start-up rate was about 88%, and the textile start-up rate in Jiangsu and Zhejiang provinces maintained 75%. About, downstream PTA and polyester products start-up rate maintained high, PTA price decline has a negative effect on the market price of p-xylene, the market price trend of p-xylene is temporarily stable.

Industry: This week, the textile industry has been in a turbulent trend. The textile industry has maintained a high start-up rate. Crude oil prices have risen slightly. The raw material PX market is stable.

3. Future market forecast:

Chen Ling, an analyst with business association PX, believes that crude oil prices have risen recently, but PTA market prices have slightly declined, downstream textile industry start-up rate has not changed much, domestic PX market supply is normal, and the price of PX market is expected to remain volatile next week.