1、 Price trend

Mixed xylene rose slightly this week, according to business news agency’s block list. On June 20, the price of mixed xylene was 5840 yuan / ton; On this Sunday (June 27), the price was 5880 yuan / ton, up 40 yuan / ton or 0.68% from last week; It was 59.78% higher than that of the same period last year.

2、 Analysis and comment

Although crude oil and external market support is good, domestic mixed xylene demand support is insufficient and growth is limited. In terms of external market, as of June 25, the price of imported mixed xylene from South Korea was 792.5 US dollars / ton, up 34 US dollars / ton or 4.48% from June 18; The reference price of domestic imported mixed xylene was $806 / T, up 29 / T or 3.73% from June 18.

In terms of crude oil, the market is optimistic about the recovery of crude oil demand, US crude oil inventories continue to decline, and international oil prices continue to rise. Compared with June 18, Brent rose $2.71/barrel, or 3.69%; WTI rose $2.41 per barrel, or 3.36%.

Downstream, PX market, domestic PX prices remained stable this week, at 6500 yuan / ton, up 58.54% year on year. As of June 25, the closing price of Asian region is 918-920 USD / T FOB Korea and 936-938 USD / T CFR China.

PTA Market in East China continued to rise this week, with the price of 4159.55 yuan / ton on Friday (June 25), up 8.46% from last week and 40.44% from the same period last year. International crude oil prices continue to rise, in this context, PTA Market obviously get cost support.

In terms of ox market, the price of ox this week was flat compared with last week. On Sunday, the price of ox in East China was 6200 yuan / ton, up 39.01% compared with the same period last year. The external quotation of o-benzene dropped, and the o-benzene in port went to the warehouse at a high level; The cost range is narrow; The downstream market fluctuated and fell, the demand was just needed, and the transaction enthusiasm was general.

3、 Future forecast

Xylene analysts from business society chemical branch think: first, look at the supply cost side, the implementation of OPEC + production reduction, the total number of oil drilling platforms in the United States, and weekly EIA and API inventory data. Second, on the demand side, the impact of the global epidemic on crude oil demand, the progress of industrial chain recovery, and the economic and trade situation in Europe and the United States. Third, look at the geopolitical situation in the Middle East, China and the United States, the progress of new technology, the dollar index and stock market linkage.

The prospect of crude oil market is good, and the support of p-xylene is good; However, the general follow-up of the downstream market and weak demand limited its rise. On the whole, xylene mixture continued to be weak in the short term. We will continue to pay attention to the impact of crude oil, external market trend, xylene plant maintenance trends, port inventory and downstream demand (gasoline market).