According to statistics, the ex factory price of p-xylene rose slightly in May, the domestic price at the beginning of the month was 4000 yuan / ton, and the domestic PX market price at the end of the month was 4100 yuan / ton, with the price trend rising by 2.5%, down 45.33% year on year. The external price of PX rose, and the domestic PX market was highly dependent on the external market. The external price rise was a positive impact of the domestic price.

In recent years, the domestic market price trend of paraxylene rebounded slightly. The domestic PX operating rate is about 70%, the 600000 ton new petrochemical plant of Sinochem Hongrun Petrochemical Co., Ltd. is put into operation, the operation of Yangzi Petrochemical plant is stable, the first line of Fuhai Chuang plant is started, the operation of Pengzhou petrochemical plant is stable, the operation of Yangzi Petrochemical PX plant is normal, the operation of Jinling Petrochemical plant is stable, the operation of Qingdao Lidong plant is full load, and Qilu Petrochemical plant is in full load operation The operation of petrochemical plant is stable, the petrochemical plant in Urumqi is about 50%, Hengli petrochemical plant is in normal operation, the domestic supply of p-xylene is normal, and the domestic market price is warmer due to the sharp rise of crude oil price. In May, the international crude oil price soared, and the external price of PX rose slightly. As of 28, the closing price of Asia was 455-457 US dollars / ton FOB South Korea and 475-477 US dollars / ton CFR China. In recent years, the operation of PX units in Asia has been stable. As a whole, the operating rate of PX units in Asia is about 70%, and the supply of PX goods in Asia is normal. In May, the external closing price of PX rose by 15 US dollars / ton, while the domestic closing price rose by 15 US dollars / ton The market price of p-xylene increased slightly.

With the gradual recovery of European and American economy and the recovery of crude oil demand, the closing price of international crude oil price soared in May. As of the 28th, the price of WTI crude oil futures market in the United States rose, and the settlement price of main contracts was 33.71 yuan / barrel. The price of Brent crude oil futures market rose, and the settlement price of main contracts was 36.03 U.S. dollars / barrel. Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman communicated on Wednesday By telephone, the two sides agreed to coordinate closely on the OPEC + agreement between the Ministry of energy. The leaders of the two sides confirmed the importance of Jointly Implementing the OPEC + production reduction agreement reached in April. In addition, the impact of the increase in production of American refineries and the unexpected increase in inventory was diluted. The sharp rise in crude oil price drove the price of domestic petrochemical products higher and the price trend of domestic paraxylene market higher.

In May, the price trend of the downstream PTA market rose sharply, and the domestic PTA spot market rose unilaterally. As of May 29, the market average price was 3566.67 yuan / ton, up 8.37% from the beginning of the month, down 38.18% year on year. Crude oil continued to strengthen, its own device maintenance increased, and suppliers bought back the spot again. Under this impetus, PTA price center continued to move up. The operating rate of domestic PTA market was 87%, but the current social inventory was more than 3.5 million tons. In terms of processing fee, PTA processing fee has fluctuated between 700-800 yuan / ton since May. Such processing fee level is undoubtedly on the high side in the current stage of overcapacity. Influenced by the price rise of downstream PTA market, the domestic market price of p-xylene has increased slightly.

Chen Ling, an PX analyst of business agency, thinks that the recent sharp rise in crude oil price, the problem of “high inventory, high processing fee and high opening rate” of downstream PTA have not been fundamentally solved, and the recovery of domestic and foreign trade in downstream terminals is slow, and the order performance is not stable. At present, the purchase of raw materials remains rigid. If the follow-up orders cannot be followed up in time, the loom load can be reduced again in late June It is expected that the market price of p-xylene will maintain 4100 yuan / ton in the later stage.