China’s domestic PX price trend rose in December

According to statistics, in December, the ex factory price of p-xylene rose. At the beginning of the month, the domestic price was 6712.5 yuan / ton. At the end of the month, the domestic PX market price was 6900 yuan / ton. The price trend rose 2.79%, down 18.82% year on year. The external price of PX rose. The domestic PX market was highly dependent on foreign countries. The external price rise was a good support for the domestic price.

 

In recent years, the market price trend of p-xylene in China has increased. The domestic PX operation rate is about 80%. The 600000 ton new unit of Sinochem Hongrun Petrochemical Co., Ltd. has been put into operation. The operation of Yangzi Petrochemical plant is stable. One line of Fuhai Chuang plant has been 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. Qilu Petrochemical plant is in full load operation The operation of the unit is stable, with the start-up of Urumqi petrochemical plant at about 50%, Hengli petrochemical plant operating normally, the domestic supply of p-xylene is normal, and the domestic market price has increased. Affected by the rise of international crude oil price, the external price of PX rose in December. As of December 30, the closing price of Asia was 837-839 US dollars / ton FOB South Korea and 857-859 US dollars / ton CFR China. Recently, several PX units in Asia are still under maintenance. As a whole, the operating rate of PX units in Asia is about 70%, the supply of PX goods in Asia is normal, and the closing price of PX external market rises favorably In the domestic market, the market price of p-xylene is higher.

 

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In December, the closing price of international crude oil rose. As of the 30th, the price of WTI crude oil futures market in the United States was $61.68/barrel, and Brent crude oil futures market was $68.44/barrel. The closing price of crude oil rose, forming a cost supporting role for downstream petrochemical products, and the price trend of domestic paraxylene market rose.

 
In December, the price trend of the downstream PTA market rose. As of December 31, the negotiation in the PTA Market in East China was about 5000-5100 yuan, and the PTA supply end yishanhua and Sichuan energy investment had been put into maintenance. BP in Zhuhai planned to stop for maintenance this week to relieve the market pressure. The PTA operating rate was about 87.25%. The actual receiving mood in the downstream of the terminal was general, and the terminal customers gradually entered the closing stage. All parties were cautious It is hoped that the comprehensive starting rate of Jiangsu and Zhejiang looms will be reduced to 65%. Weaving enterprises show the phenomenon of reducing the number of orders and lack of stamina. In winter, the turnover of fabrics decreases month by month, while in spring, the order of fabrics is relatively limited. At the same time, close to the end of the year, most enterprises are reducing prices and destocking in order to collect funds. The improvement of the downstream market will form a positive support for the p-xylene market.

 

Chen Ling, an PX analyst at the business agency, thinks that in the near future, the trend of crude oil price is rising, and the operating rate of downstream PTA market remains at a high level of 80%, but the terminal market has not improved significantly, and it is expected that the market price trend of p-xylene will remain stable in the later stage.

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