1、 Price trend
Mixed xylene rose slightly this week, according to the bulk list data of business society. On April 29, the price was 7550 yuan / ton; On Friday (May 6), the price was 7610 yuan / ton, up 0.79% from last week; Compared with the same period last year, it increased by 28.33%.
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2、 Analysis and comment
Crude oil rose continuously, mixed xylene in Asia rose broadly in the outer disk, and the cost side was well supported. After the festival, the downstream air was filled, the demand improved, the main refineries actively raised the price, and the mixed xylene market rose.
In terms of external market, the price of mixed xylene in Asia rose this week. On Friday (May 6), the price of mixed xylene imported from South Korea was US $1130.5/ton, with a year-on-year increase of US $39 / ton, or 3.57%; The reference price of domestic imported mixed xylene was 1145 US dollars / ton, with a year-on-year increase of 37.5 US dollars / ton or 3.39%.
Crude oil rose broadly this week. The European Union plans to gradually stop Russian oil imports, the market has intensified concerns about tight crude oil supply, and international oil prices have risen continuously. As of May 6, Brent rose $3.05 / barrel, or 2.79%; WTI rose $5.08/barrel, or 4.85%.
Downstream, in the PX market, the domestic PX price was stable this week. On Friday (May 6), the domestic ex factory price of p-xylene was 8900 yuan / ton, which was flat compared with last week and increased by 39.06% compared with the same period last year. On May 6, the closing price of p-xylene market in Asia was USD 1180 / T FOB Korea and USD 1198 / T CFR China.
In terms of ox market, the price of ox in East China was stable this week. On Friday (May 6), the price of ox in East China was 8200 yuan / ton, which was flat compared with last week and increased by 38.98% compared with the same period last year.
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In terms of gasoline, gasoline in Shandong rose slightly this week. The price was 8819.8 yuan / ton on April 229 and 8907.4 yuan / ton on May 6, up 0.99% from last week and 18.03% from the same period last year. The rise in crude oil prices, coupled with the increase in on-site demand, led to a rise in the gasoline market.
3、 Future forecast
In terms of crude oil, the situation in Russia and Ukraine is full of uncertainty, and the fear of tightening oil supply remains unabated. However, high oil prices are bad for the economy and demand, rising inflation or restraining the rise of oil prices, and there is still a risk of violent fluctuations in short-term crude oil. Continue to pay attention to the impact of geopolitical situation, OPEC + decision on crude oil production, US crude oil and refined oil storage dynamics, global economic conditions and other factors on crude oil prices.
The crude oil price is high, and the cost support is acceptable. The downstream demand lacks sustainability, the overall transaction is still weak, and the logistics transportation has not been fully recovered. Overall, short-term mixed xylene or finishing operation. Pay attention to the market trend of crude oil and gasoline, the impact of mixed xylene and downstream device dynamics, port inventory and external market on the price of mixed xylene.
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