1、 Price trend

Mixed xylene prices fell slightly this week, according to data from the business agency’s bulk list. On May 23, the price of mixed xylene was 5960 yuan / ton; The price of this Sunday (May 30) was 5920 yuan / ton, down 40 yuan / ton, or 0.67% from last week; It was up 62.64 per cent from the same period last year.

2、 Analysis and comment

In domestic, the spot market is in sufficient supply, but the downstream demand is weak, the market is weak due to the lack of guidance in the field. On the external market, as of May 28, the price of imported mixed xylene in South Korea was 765 USD / T, while on May 21, the price fell by 1 USD / T, or 0.13%; The reference price of domestic imported mixed xylene was US $784 / T, which was down by $4 / T, or 0.51% on May 21, on May 21.

On the crude oil side, Iran resumed crude oil exports or delayed, the market had a strong outlook for recovery of crude oil demand, and the Gulf of Mexico oil field in the United States or closed under the influence of storm, and oil prices rose. But India is in a severe situation, which still restricts the recovery of demand. Brent rose $2.62 / barrel this week, or 3.92 percent, on May 21; WTI rose $2.52/barrel, or 3.96 percent.

Downstream, PX market, this week, domestic PX prices remained stable, with prices at 6400 yuan / ton, up 56.1% year on year. Asia closed at $826-828 / T FOB Korea and $844-846 / T CFR China as of May 28.

PTA market, this week, the East China region PTA rose in shock, Sunday (May 30) price at 4670 yuan / ton, up 1.56% from last week, 31.38% higher than the same period last year.

In the ox market, the ox price this week was flat compared with last week, while on Sunday, the price of ox in East China was 6200 yuan / ton, up 47.62% from the same period last year. Domestic o-xylene market is stable temporarily and supply is sufficient; External offer fluctuated and increased; Cost shocks fell; Downstream market volatility fell, demand just need to be the main, o-benzene transaction enthusiasm is general.

3、 Future forecast

Xylene analysts of the chemical branch of business society think: on the supply cost side, opec+ production reduction implementation, the total number of us oil drilling platforms and weekly EIA and API inventory data. Second, the demand side, the impact of global epidemic on crude oil demand, the recovery of industrial chain, and the economic and trade situation in Europe and America. Third, we will look at the geopolitical situation between the Middle East and the United States, the progress of the new crown vaccine, the dollar index and the stock market linkage.

The crude oil market is full of uncertainty, the downstream follow-up is general, the mixed xylene market mentality is relatively short, and there is still a possibility of continued decline in the short term. We will continue to pay attention to the influence of the price trend of Blending Crude Oil and gasoline, the maintenance dynamics of mixed xylene plant, port inventory and downstream demand changes on the price of mixed xylene.