Domestic price trend:

It can be seen from the p-xylene trend chart that the market price trend of p-xylene this week is temporarily stable. By the end of the week, the ex factory price of domestic p-xylene was 7300 yuan / ton, which was the same as that at the beginning of the week, with a year-on-year increase of 58.7%. The price trend of domestic PX market this week is stable.

Recently, the domestic p-xylene supply is normal, the domestic PX operating rate is more than 60%, the 600000 ton unit of Sinochem Hongrun Petrochemical operates stably, the unit of Yangzi Petrochemical operates stably, the unit of Pengzhou Petrochemical operates stably, the PX unit of Yangzi Petrochemical operates normally, the unit of Jinling Petrochemical operates stably, the unit of Qingdao Lidong operates at full load, and the unit of Qilu Petrochemical operates stably, About 50% of Urumqi petrochemical units have been started, and the domestic p-xylene supply is general, but some overseas units are still under maintenance, and the domestic p-xylene price trend is stable. Recently, the closing price of international crude oil continued to decline, and the trend of PX external price declined. As of the 19th, the closing prices in Asia were US $865-867 / T FOB Korea and US $883-885 / T CFR China. Recently, the operating rate of PX units in Asia has not changed much. On the whole, the operating rate of p-xylene installation in Asia is more than 60%, the supply of PX goods in Asia is general, and the closing price of PX external price fell, The domestic p-xylene market price trend is temporarily stable.

Crude oil prices fell sharply this week. The settlement price of main contracts in WTI crude oil futures market in the United States was $63.50/barrel, and the settlement price of main contracts in Brent crude oil futures market was $66.45/barrel. Oil prices fell for six consecutive trading days, hitting a low since May. On the one hand, the strength of the US dollar pulled down the oil price valuation, and more importantly, it was the negative impact of cooling demand expectations, The superposition of the increase in production in oil producing countries and the end of the peak driving season in the United States has exacerbated market concerns. In addition, the spread of delta virus has made crude oil demand worrying. Crude oil prices fell this week, which was bad for the price of domestic petrochemical products, and the price trend of p-xylene was temporarily stable.

The downstream PTA market price trend declined this week. As of the 20th, the average PTA market price was 5000-5050 yuan / ton, down 5.87% this week. International crude oil prices fell sharply and lost some cost support. Recently, some PTA units have been restarted and the supply has increased slightly. At the same time, due to the weakening of terminal weaving orders and the continuous deterioration of profit level, the production reduction and shutdown plans of downstream polyester units have increased recently. According to market news, the four major polyester plants plan to start to reduce production by 20%. It is expected that the commencement of polyester units will further decline, the demand for PTA will weaken, and the destocking speed will slow down. On the whole, in the downstream, the opening probability of most weaving factories has decreased recently, and the inventory production mentality is cautious. At the same time, due to the lack of new orders in the market, after the original orders are gradually completed, the factories mainly return funds, and the startup rate may maintain a downward trend. Recently, the domestic PTA market price has declined due to the influence of crude oil, and the downstream market has fallen, The market price trend of p-xylene is mainly stable.

Chen Ling, PX analyst of business society, believes that the current cost performance is weak, the short-term crude oil price trend remains weak, and the downstream PTA and textile market trend falls. It is expected that the market price of p-xylene may fall slightly in the later stage.