Domestic p-xylene price trend:

It can be seen from the p-xylene trend chart that the market price trend of p-xylene this week is temporarily stable. By the end of the week, the ex factory price of domestic p-xylene was 7300 yuan / ton, which was the same as that at the beginning of the week, with a year-on-year increase of 55.81%.

Recently, the domestic p-xylene supply is normal, the domestic PX operating rate is more than 60%, the 600000 ton unit of Sinochem Hongrun Petrochemical operates stably, the unit of Yangzi Petrochemical operates stably, the unit of Pengzhou Petrochemical operates stably, the PX unit of Yangzi Petrochemical operates normally, the unit of Jinling Petrochemical operates stably, the unit of Qingdao Lidong operates at full load, and the unit of Qilu Petrochemical operates stably, About 50% of Urumqi petrochemical units have been started, and the domestic p-xylene supply is relatively normal, but some overseas units are still under maintenance. Due to the general downstream demand, the domestic p-xylene price trend is temporarily stable. The closing price of international crude oil rose, while the external price of PX rose slightly. As of the 9th, the closing prices were US $824-826 / T FOB Korea and US $842-844 / T CFR China. Recently, the operating rate of PX unit in Asia has been relatively stable. On the whole, the operating rate of p-xylene unit in Asia is more than 60%. The supply of PX goods in Asia is normal, and the closing price of PX has little change, The domestic p-xylene market price trend is temporarily stable.

Crude oil prices rose this week. The settlement price of the main contract of WTI crude oil futures in the United States was US $70.94/barrel, and the settlement price of the main contract of Brent crude oil futures was US $74.42/barrel. Early this week, South Africa reported that the symptoms of local Omicron infection cases were mild. After that, the market was worried about undermining oil demand and oil prices ushered in a retaliatory rebound. In addition, the Iranian nuclear negotiations are at an impasse, the possibility of Iranian oil returning to the market is reduced, and crude oil is also supported to a certain extent. Second, the US Energy Information Administration (EIA) reported on Wednesday that US crude oil inventories fell slightly last week, which benefited the oil market. OPEC +, an oil producing country, also acts as a ballast. OPEC + decided to continue to release 400000 barrels / day of production capacity as planned at the ministerial meeting on December 2, reflecting the confidence of the alliance led by Saudi Arabia and Russia in the future demand prospects. The rising trend of oil price has a certain positive impact on the domestic petrochemical market, and the price trend of p-xylene is temporarily stable.

The downstream PTA market price trend rose this week. As of the 10th, the average PTA market price was 4600-4700 yuan / ton, and the PTA price rose by 4.37% this week. At present, the improvement of PTA market is mainly due to the recovery of crude oil market and the good supply side brought by centralized maintenance of units. However, the current terminal orders are still relatively light, the downstream polyester inventory is accumulated, and the raw material procurement is mainly to meet the rigid demand. At present, the operating rate of the industry is maintained at close to 73%. The terminal orders in the terminal market are still relatively light. At present, the comprehensive startup rate of looms in Jiangsu and Zhejiang is 65.31%, and the raw material preparation of weaving factories continues to decline. At present, the normal production volume is maintained, and the preparation volume is in 2-3 weeks. On the demand side, due to the continuous decline of domestic and foreign trade orders on a month on month basis, considering that it is difficult for orders to improve before the Spring Festival, it is expected that factories in Jiangsu and Zhejiang will stop for vacation one after another from mid December, and the startup load will continue to decline. PTA plant in the raw material market is still planned to be overhauled, the positive support on the cost side remains, and the market price trend of p-xylene is temporarily stable.

Chen Ling, PX analyst of business society, believes that the current crude oil price is supported to a certain extent, and the cost side is still supporting. In addition, some downstream PTA devices may be overhauled, resulting in poor demand in the terminal textile industry. It is expected that the market price of p-xylene may remain low and stabilize temporarily in the later stage.