1、 Price trend

According to the data of the large scale list of business agencies, the domestic xylene market price trend this week was stable. As of Friday, the domestic average price was about 3640 yuan / ton, up 0.55% on last week.

2、 Analysis and comment

1. Product: at present, the market demand has improved, and the transaction is fair. This week, the international crude oil overall showed a small fluctuation trend. Affected by this, the domestic xylene price rose steadily and slightly this week. At present, the mainstream price in East China is around 3680 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, with the new opening of the main economic weight and the initial signs of rising gasoline demand in the United States, Russia indicated its willingness to extend the production reduction. However, the unexpected increase in U.S. crude oil inventory announced this week, as well as investors’ concerns about the tension in Global trade relations, led to the overall trend of international crude oil shocks this week. At present, the international oil price shows signs of resistance near its high in the past two months, so as to prevent the trend of fluctuation and fall that may occur at any time. As of early Friday morning, spot Brent rose 1.28%, Brent futures slightly fell 0.14%, WTI futures rose 2.44%, and Dubai futures rose 2%.

Downstream, in PX market, this week, domestic Sinopec’s listed price is about 4100 yuan / ton, and the latest price on the outside market is about $456 / ton for FOB South Korea and $476 / ton for CFR China. It is expected that the market price of PX will be stable in the short term. In terms of PTA market, the spot market price of PTA in China is about 3550 yuan / ton, and the external market price is about 430 US dollars / ton CFR China. It is expected that PTA price will be stable next week. In the ox market, Sinopec’s price of o-benzene rose, with the price at 4200 yuan / ton. The external price of o-benzene is about 472 US dollars / ton FOB South Korea. It is expected that the price of o-benzene will be stable next week.

3、 Future forecast

According to xylene analyst of business and chemical branch, in the short term, we can see the supply cost side, OPEC + production reduction, total number of us oil drilling and EIA inventory. In the medium term, we can see the demand side, the economic and trade situation between China and the United States, the progress of economic restart in Europe and the United States, and the progress of industrial chain recovery. Next week, we will focus on the trend of crude oil. Overall, we expect xylene prices in the domestic market to adjust next week.