Domestic price trend:

It can be seen from the p-xylene trend chart that the price trend of p-xylene in December was temporarily stable. By the end of the month, the domestic ex factory price of p-xylene was 6700 yuan / ton, which was the same as that at the beginning of the month, with a year-on-year increase of 42.55%. The price trend of domestic PX market was stable in December.

In December, the domestic p-xylene supply was normal, and the domestic PX operating rate was more than 60%. The 600000 ton unit of Sinochem Hongrun petrochemical, Yangzi Petrochemical, Pengzhou petrochemical, Yangzi Petrochemical, Jinling Petrochemical, Qingdao Lidong and Qilu Petrochemical operated stably, The start-up of Urumqi petrochemical plant is about 50%, and the domestic p-xylene supply is general, but the start-up of overseas plants is general, and the price trend of domestic p-xylene is temporarily stable. In December, the international crude oil price rose, and the PX external price rose. As of the 30th, the closing prices were US $874-876 / T FOB Korea and US $892-894 / T CFR China. Recently, the operating rate of PX units in Asia is normal. On the whole, the operating rate of p-xylene units in Asia is less than 60%, the supply of PX goods in Asia is general, the closing price of PX in the external market is rising, and the domestic market price of p-xylene is temporarily stable.

In December, the international crude oil price rose sharply, with crude oil rising by 16.33%. WTI stood above US $75 again and reached a nearly one month high. The rapid spread of Omicron variant virus, but the symptoms seem to be milder than those of the previous variant; The market hopes that Omicron will weaken its impact on global demand in 2022 and oil prices will be supported. The main reason is that Saudi Arabia believes that oil supply is still very scarce. In addition, although the epidemic trend is still serious, the symptoms of omiron infected people are relatively mild, which brings some optimism to the market. In a report on Monday, JPMorgan said that Omicron would not have any significant impact on the growth prospects. US stocks were boosted and rose, which was also good for oil prices. In addition, a preliminary survey released on Monday showed that U.S. crude oil inventories may decline for the fifth consecutive week last week, while gasoline inventories are expected to remain generally stable. Iranian Foreign Minister Abdullah Hyan said through the media on the 27th that the parties concerned with the comprehensive agreement on Iran’s nuclear issue began the eighth round of us Iran resumption of performance negotiations in the Austrian capital Vienna on the same day, and will focus on a “new common draft”, which focuses on the “unrestricted” sale of Iranian petroleum oil, and the sale funds will be deposited into Iran’s bank account in foreign currency. However, at present, it is still difficult to promote the negotiations. As of December 30, the settlement price of the main contract of WTI crude oil futures in the United States was reported as USD 76.99/barrel, and the settlement price of the main contract of Brent crude oil futures was reported as USD 79.53/barrel. On the whole, the international crude oil price rose sharply in December, and the price trend of p-xylene was temporarily stable.

In December, the downstream PTA market price rose sharply. As of No. 31, the average PTA market price was 4900-5000 yuan / ton, an increase of 10.25% in December. In December, PTA went out of stock as a whole, and there were a lot of plant maintenance and production reduction. At the beginning of the month, the operating rate of PTA industry was around 75%. With the short stop of 6 million ton plant of yishanhua in the middle of the month, the operating rate quickly fell to 61%, and then restarted one after another, rising to 80%. At present, the market supply is still sufficient. Most of the offers of downstream polyester plants are hard demand, and the overall trading atmosphere is light. The start-up of the downstream polyester industry in December remained around 80%, and the change was not too great. Due to the weak terminal demand, the polyester market mainly fell. With the boost of the cost side, there was a slight rebound at the end of the month, and the monthly decline of each product was around 2%. With the Spring Festival approaching, the comprehensive starting rate of looms in Jiangsu and Zhejiang fell from 67% at the beginning of the month to 60%. The overall demand was not followed up enough, and the actual trading volume slowed down, mainly consuming the early-stage inventory. The downstream PTA market price rose sharply, which was good for the domestic p-xylene market, and the p-xylene market price trend was temporarily stable.

Chen Ling, PX analyst of business society, believes that there is a certain positive support for the current crude oil cost. In addition, polyester manufacturers in the downstream of the terminal market have reduced production. As the Spring Festival approaches, the number of terminal orders decreases and some factories have holidays, the demand is still insufficient. However, PTA starts to maintain a high level, and the demand for PX can be supported by crude oil, It is expected that the market price of p-xylene may rise in the later period.