1、 Price trend

The domestic isomeric xylene market fell slightly this week, down 0.8% on last week as of Friday, according to the data in the business club’s bulk list.

2、 Analysis and comment

1. Product: due to the continuous spread of the epidemic and the fear of crude oil demand shrinking, the price of international crude oil fell sharply this week, as well as the price of toluene in the Korean market. Although domestic enterprises have gradually entered the resumption period and the market demand has gradually improved, the price of domestic isomeric xylene still follows the decline. At present, the mainstream price in East China is about 4950 yuan / ton.

2. Industrial chain:

Upstream, in terms of crude oil, international oil prices fell sharply this week. As of Friday, spot Brent fell 10.76%, Brent futures fell 10.92%, WTI futures fell 11.41%, and Dubai futures fell 10.27%.

Downstream, in PX market, Sinopec’s companies listed around 6300 yuan / ton this week, with the latest prices of about 670 US dollars / ton FOB South Korea and 688 US dollars / ton CFR China. It is expected that PX market prices will stop falling and stabilize next week. In terms of PTA market, the price of domestic PTA spot market is about 4200 yuan / ton, and the price of foreign market is about 559 US dollars / ton CFR China. It is expected that PTA price will stop falling and stabilize next week. In the ox market, Sinopec’s price of o-benzene was flat at 5800 yuan / ton, and the external price of o-benzene was about 715 US dollars / ton fob in South Korea. It is expected that o-benzene will stop falling and stabilize next week.

3、 Future forecast

Xylene analysts from the chemical branch of business society think: next week, we will continue to focus on the trend of crude oil and the progress of downstream enterprises’ resumption. On the whole, it is expected that the price of isomeric xylene in the international crude oil market and South Korean market will stop falling and stabilize and rebound next week. In addition, domestic enterprises will gradually enter the resumption period, and the market demand will gradually improve. Under the expectation, the price of isomeric xylene in the domestic market will fluctuate and rebound next week.