1、 Price trend

Mixed xylene prices have risen slightly this week, according to data from the business agency’s bulk list. On May 30, the price of mixed xylene was 5920 yuan / ton; The price of this Sunday (June 6) was 5940 yuan / ton, up 20 yuan / ton, or 0.34% from last week; It was 58.4 per cent higher than the same period last year.

2、 Analysis and comment

On the domestic side, although the external news has brought good support, domestic mixed xylene has just to be the main demand, the demand is not enough, and the price increase in the week is limited. On the external market, as of June 4, the price of imported mixed xylene in South Korea was US $770 / T, up 0.65% on May 28, compared with May 28; The reference price of domestic imported mixed xylene was 790 USD / T, which rose by 6 US dollars / ton, or 0.77% on May 28, on the same month.

On the crude oil side, the United States entered the peak driving travel season, and the demand for gasoline has obviously increased. And opec+ conference decided to maintain the gradual increase plan unchanged. The outlook for the crude oil market is good, with oil prices rocketing this week. Brent rose $1.175/barrel this week, or 1.69 percent, on May 28; WTI rose $3.29/barrel, or 4.98 percent.

Downstream, PX market, this week, domestic PX prices rose, at 6500 yuan / ton, up 1.56% from last week, up 58.54% year-on-year. Asia closed at $830-832 / T FOB Korea and $848-850 / T CFR China as of June 4.

PTA market, this week, East China PTA rose first and then fell, Sunday (June 6) price at 4735.45 yuan / ton, up 1.4% from last week, up 29.82% from 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.

3、 Post market 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 prospect of crude oil market is good, and it is possible to continue to rise; But downstream follow-up is general, and demand support is weak. In general, the short-term mixed xylene consolidation is the main. 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.