1、 Price trend
According to the data of the large scale list of business agencies, the domestic xylene market price rose this week. As of Friday, the domestic average price was about 3750 yuan / ton, up 3.02% month on week.
| Melamine |
2、 Analysis and comment
At present, the market demand has improved and the transaction is fair. Influenced by the overall trend of fluctuating rise of international crude oil this week, the domestic xylene price is rising this week. At present, the mainstream price in East China is about 3770 yuan / ton.
Upstream, crude oil, data released this week show that OPEC + actively implemented the production reduction agreement in May, and Saudi Arabia and Russia have reached a preliminary agreement to extend the current record production reduction by one month, which, combined with the global economic restart, boosted the recovery of demand and boosted the international oil price this week. As of early Friday morning, spot Brent rose 9.69%, Brent futures rose 10.28%, WTI futures rose 5.25%, and Dubai futures rose 14.49%.
| Sodium Molybdate |
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 486 US dollars / ton for FOB South Korea and 506 US dollars / ton for CFR China. It is expected that the market price of PX will follow the rise in the short term. In terms of PTA market, the price of domestic PTA spot market is about 3650 yuan / ton, and the price of external market 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 is stable, at 4200 yuan / ton, and the external price of o-benzene is about 495 US dollars / ton FOB South Korea. It is expected that the price of o-benzene will follow the rise 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.
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