1、 Price trend

The domestic xylene market fell slightly this week. As of Friday, the domestic average price was about 3520 yuan / ton, down 0.84% month on month.

2、 Analysis and comment

This week, the international oil price rose sharply and fell back. Affected by this, the price of isomerized xylene decreased slightly this week. Meanwhile, affected by the low operating rate of downstream PX manufacturers, the demand for isomeric xylene slowed down, the market transaction was not active, and the price was weak and stable. The port inventory is high, about 160000 tons by the end of last week, and the progress of de stocking is slow. At present, the mainstream price in East China is about 3650 yuan / ton. As the new coronavirus epidemic leads to the reduction of crude oil demand and the impact of geopolitical tightening on economic recovery concerns, the market continues to pay attention to the impact of the continued spread of overseas epidemic on the demand for crude oil, and the progress of the European and American economic recovery rescue plan.

Upstream, crude oil, this week, the international oil price rose and fell. As of Friday, Brent rose 0.255 USD / barrel to 44.515 USD / barrel, up 0.58% month on month. The longer the oscillation lasts, the greater the possibility of large fluctuations in the future. The future market will pay close attention to the fluctuation and breakthrough of Brent crude oil between $42-46 / barrel. The future crude oil demand prospect and oil price trend mainly depend on the trend of global epidemic situation and the orderly recovery of national economy. At the same time, how oil producing countries and oil enterprises adjust their production is also an important factor affecting oil prices.

Downstream, PX market, domestic Sinopec’s listed price is about 4600 yuan / ton this week, and the latest external price is about 536 US dollars / ton FOB Korea and 554 US dollars / ton CFR China. It is expected that the PX market will maintain a stable trend in the short term. In terms of PTA market, the market price dropped slightly this week. The domestic PTA spot market price is about 3630 yuan / ton, and the external price is about 445 US dollars / ton CFR China. It is expected that PTA price will maintain a stable trend next week. In terms of ox market, Sinopec’s o-benzene quotation is stable, with the price of 4400 yuan / T. the external price of o-benzene is about 518 US dollars / ton FOB Korea and 543 US dollars / ton CFR China. It is expected that the price of o-benzene will maintain a stable trend next week.

3、 Future forecast

Xylene analysts of the chemical branch of business society believe: in the short term, OPEC + production reduction, total number of oil drilling in the United States and EIA, API inventory data in the short term. In the medium term, on the demand side, the economic and trade situation in Europe and the United States, the geopolitical situation between China and the United States, and the continuous deterioration of the global second epidemic situation have an impact on the economic restart of crude oil demand and the recovery progress of the industrial chain. Next week, we will focus on the impact of the continued spread of overseas epidemic on the demand for crude oil due to the economic restart and recovery, as well as the progress of the European and American economic recovery rescue plan. On the whole, it is expected that xylene prices in the domestic market will continue to fluctuate slightly next week.