According to statistics, the trend of domestic p-xylene ex factory price this week is temporarily stable. The weekend average price is 4100 yuan / ton, which is the same as that at the beginning of the week, down 43.84% year on year.

The domestic market price trend of p-xylene is temporarily stable, the domestic PX operation rate is maintained at more than 70%, the operation of Hongrun 600000 ton new plant is stable, the operation of Huizhou refining and chemical plant is stable, the first line of fuhaichuang plant is started, the operation of Pengzhou petrochemical plant is stable, the operation of Yangzi Petrochemical PX plant is normal, the operation of Jinling Petrochemical plant is stable, the operation of Qingdao Lidong plant is full load, and the operation of Qilu Petrochemical plant is stable , Urumqi petrochemical plant starts at about 50%, Hengli petrochemical plant operates normally, domestic p-xylene supply is normal, domestic p-xylene market price trend on Friday. This week, the operating rate of PX plant in Asia is more than 70%, and the supply of PX goods in Asia is normal. This week, the external price trend of PX rose slightly. As of the end of the week, the closing price of PX market in Asia was 485-487 US dollars / ton FOB South Korea and 505-507 US dollars / ton CFR China. Affected by the rising price of international crude oil, the external price of PX rose this week, and more than 40% of domestic products need to be imported , the closing price rise of PX external market has a certain positive impact on the domestic market, and the price trend of domestic PX market is temporarily stable.

WTI crude oil futures market price rose this week, with main contract settlement price at 37.41 US dollars / barrel, Brent crude oil futures market price rising, main contract settlement price at 39.99 US dollars / barrel, WTI crude oil and Brent crude oil also reached their highs in nearly three months, mainly driven by the expected warming of OPEC + extended production reduction agreement and economic recovery sentiment in the United States and Europe, driven by raw materials Favorable support effect, domestic p-xylene market price trend is temporarily stable.

The price trend of PTA Market in the downstream of this week is rising. As of the end of the week, the PTA Market in East China was negotiated at 3650-3750 yuan. Recently, the starting load of PTA industry is 86%, and the rising crude oil price has driven the price of PTA market to rise. Up to now, PTA inventory has risen to a high near 3.55 million tons. According to the calculation of the existing capacity, the PTA operating rate is nearly 10% lower than the polyester operating rate, so the market can be basically balanced. Compared with the current PTA industry’s 86% operating load, polyester operation is obviously insufficient. Although the demand side of the downstream terminal has improved, after the middle of May, the number of orders began to decrease rapidly, and the market entered the traditional off-season. The order performance is not stable, and the purchase of raw materials is mainly cautious. If the follow-up orders cannot be followed up in time, the possibility of the loom load reduction will not be ruled out in the later period. The substantial recovery still needs to be observed, and the short-term PTA stock accumulation situation is difficult to change. However, the price rise of downstream PTA market brings some good support to PX market, and the domestic p-xylene price trend is temporarily stable.

On the whole, the demand of textile industry has not improved significantly, the order performance is not stable, and the terminal demand is not good. For the upstream PX on-demand procurement, the PX market price trend is temporarily stable.

Chen Ling, an PX analyst at the business agency, believes that the trend of crude oil price continues to rise in the near future, but the operating rate of downstream textile enterprises remains around 60%, and the supply of domestic PX market is normal. It is expected that the PX market price will remain around 4100 yuan / ton next week.