On February 26, the PX Commodity Index was 70.20, unchanged from yesterday, down 31.45% from its peak of 102.40 points in the cycle (2013-02-28), and up 54.12% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

Recently, the domestic market price trend of p-xylene has been rising. Pengzhou Petrochemical Unit has been running steadily, Urumqi Petrochemical Unit has started 50% and Fuhaichuang Aromatic Hydrocarbon Unit has been restarted. Other units have been running steadily for the time being. The domestic market supply of p-xylene is normal, and the market price trend of p-xylene has increased slightly. The opening rate of PX plant in Asia is about 80%. On February 26, the closing price of p-xylene in Asia dropped by 6 US dollars per ton. The closing price is US$109 2-1094 per ton FOB Korea and US$111-1113 per ton CFR in China. More than 50% of the domestic units need to be imported. The decline of foreign prices has a negative impact on the domestic market price of p-xylene, but due to the settlement price of Sinopec in China. The price of p-xylene rose slightly.

On February 26, the price of WTI crude oil in April rose to 55.50 US dollars per barrel, an increase of 0.02 US dollars. Brent crude oil in April rose to 65.21 US dollars per barrel, an increase of 0.45 US dollars. The price of crude oil rose slightly, which supported the price of downstream petrochemical products. The price trend of xylene market rose. Recently, the textile industry has declined, PTA prices shocked on the 27th. The average price in East China was raised near 6350-6500 yuan/ton. As of the 26th day, the domestic PTA start-up rate was about 80%, the polyester industry start-up rate was about 77%. In addition, the guerrilla production and sales rate was low. The PTA market price shocks, and the price of PX market is expected to rise slightly in the later period.

Price Trend

This month, the domestic phenol market was collated horizontally and the negotiation atmosphere was flat. According to the monitoring data of business associations, the listed offer of phenol petrochemical plants has been maintained at 8,500 yuan/ton. There is no adjustment plan before the festival, and this month’s market offer is relatively stable. According to the monitoring, the market offer in eastern China is 8,400 yuan/ton.

II. Analytical Review

Products: This month, domestic phenol manufacturers in East China executed 8,500 yuan per ton hanging tray, phenol manufacturers in North China executed 8,500 yuan per ton, Huizhou Zhongxin in South China offered 9,000 yuan per ton. Installation: Huizhou Zhongxin parked for one week but shipped normally during the parking period. Yangzhou Shiyou 25 was accidentally parked and repaired for three days. It was in normal production at the end of the month. In recent years, although the port inventory pressure is not large, it is difficult to pull the market because of poor terminal demand. Up to now, the market offers are as follows: the mainstream reference offer in East China is 8400 yuan/ton, Yanshan is 8500 yuan/ton, Shandong is 8500 yuan/ton, Henan is 8700 yuan/ton, and South China is 8900 yuan/ton.

Industry chain: pure benzene: This month, the pure benzene market rose first and then stabilized. At the end of the month, the pure benzene listed 4650-4700 yuan/ton level. So far, the long holiday effect of the Spring Festival appears. The quotation of the factory remains unchanged. Traders generally suspend the quotation. The domestic pure benzene market is light, showing a price-free market, waiting for the return of the festival. Propylene: This month’s overall decline in the propylene market, so far the market sentiment is still strong wait-and-see. Although the market is negative, the ups and downs are generally supported, but cost constraints, it is expected that the propylene market may continue to decline, but the decline is limited. The overall downstream start-up rate is low, purchasing just needs to be the main, downstream bisphenol A, epoxy resin and other products stable operation, the market has no waves.

3. Future Market Forecast

At present, the domestic phenol Market is in a weak position. In recent years, there is no adjustment plan for the factories concerned. Traders withdraw from the market mostly without quotation, but seldom with quotation. Phenol analysts of business associations believe that the phenol market will remain stable during the Spring Festival holidays. They expect to offer about 8400 yuan/ton in the mainstream market of East China.