I. price trend:

According to statistics, the trend of domestic p-xylene ex factory price this week is temporarily stable. The weekend average price is 6800 yuan / ton, which is flat compared with the price at the beginning of the week of 6800 yuan / ton, down 38.18% year on year.

II. Market analysis:

Products: this week, 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 new 600000 ton Hongrun unit is stable, the operation of Huizhou refining and chemical unit is stable, the first line of Fuhai Chuang unit is started, the operation of Pengzhou petrochemical unit is stable, the operation of Yangzi Petrochemical PX unit is normal, the operation of Jinling Petrochemical unit is stable, the operation of Qingdao Lidong unit is full load, Qilu Petrochemical equipment is stable. The plant is stable in operation, with the Urumqi petrochemical plant operating at about 50%, Hengli petrochemical plant operating normally, the domestic supply of p-xylene is normal, and the domestic market price trend of p-xylene is temporarily stable. This week, the operating rate of PX plant in Asia is more than 70%. The supply of PX in Asia is normal. The price of PX outside this week fluctuates. As of the weekend, the closing price of PX market in Asia is 773-775 US dollars / ton FOB South Korea and 793-795 US dollars / ton CFR China. Affected by the fluctuation of the original international oil price, the price of PX outside this week has little change. More than 50% of domestic products need to be imported, P X external closing price shocks to the domestic market to bring some support, the domestic PX market price trend is temporarily stable.

Industry chain: the closing price of domestic crude oil rose slightly this week. As of the 24th, the price of WTI crude oil futures market in the United States was $56.23/barrel and Brent crude oil futures market was $61.67/barrel. As a whole, the closing price of crude oil rose slightly this week, which had a certain cost support impact on the price of downstream petrochemical products, and the price trend of PX market was temporarily stable. This week, the price trend of PTA Market in the downstream slightly declined. As of the end of the week, the price trend of PX market in East China PTA market was about 4900-5000 yuan, and the price trend of PX market in the upstream raw material was temporarily stable. Recently, the starting load of PTA rose to about 92.5%. The restart of multiple units at the supply end was bad for PX market, and the terminal demand slightly changed, and the polyester starting remained stable. The starting load of downstream polyester is around 66%, and that of Jiangsu and Zhejiang looms is 77%. The profit of the terminal weaving and texturing enterprises is not optimistic. The comprehensive starting rate of Jiangsu and Zhejiang looms is around 77%, and the purchasing and stock up mood is general. The prices of polyester mainstream factories in Jiangsu and Zhejiang are mainly stable, the terminal demand is not significantly improved, and the market price trend of p-xylene is stable.

Industry: this week, the trend of the textile industry remained volatile, the textile industry’s operating rate changed little, the crude oil price rose slightly, and the raw material PX market was temporarily stable.

3. Future forecast:

Chen Ling, an PX analyst at business club, thinks that the crude oil price range is fluctuating in the near future, but PTA market price is weak, the price of PX external market changes little, the operating rate of downstream textile industry remains high, the supply of domestic PX market is normal, and the PX market price is expected to maintain 6800 yuan / ton next week.