1、 Price trend
| PVA 1799 (PVA BF17) |
According to the bulk list data of business cooperatives, the price of mixed xylene rebounded slightly after falling this week. On November 4, the price was 8060 yuan/ton; On Friday (November 4), the price was 8040 yuan/ton, 0.25% lower than that of last week and 26.81% higher than that of the same period last year.
2、 Analysis and review
As more xylene has arrived at the port recently, the supply side has increased; The demand side continued to be weak, downstream chemical products just needed to follow up, terminal gasoline market continued to be weak, and mixed xylene continued to decline at the beginning of the week. However, the price in East China rebounded slightly, boosted by the rise of crude oil in the second half of the week.
On the external side, the price of mixed xylene in Asia fell this week. On Thursday (November 10), the price of mixed xylene imported from South Korea was 938 dollars/ton, down 14.5 dollars/ton, or 1.52%.
In terms of crude oil, international oil prices fell in the first half of the week due to the weakening of fuel demand due to epidemic measures in Asia and the unexpected growth of crude oil stocks in the United States. However, there are signs that US inflation is slowing down, supporting the rebound of oil prices. As of November 11, Brent price this week fell by 2.58 dollars/barrel, or 2.62%, compared with last week; WTI fell by 3.65 dollars/barrel, or 3.94%.
On the downstream side, in terms of PX, the domestic PX price remained stable this week. On November 4, the price was 8600 yuan/ton, and on November 11, the price was 8600 yuan/ton, unchanged from last week and 17.81% higher than the same period last year.
In terms of OX, the price of OX in East China fell this week. On November 4, it was 9300 yuan/ton, and on November 11, it was 9000 yuan/ton, down 3.23% from last week and up 25% from the same period last year.
| POLYVINYL ALCOHOL |
In terms of gasoline, it is difficult to reverse the situation of “strong diesel and weak gasoline”. This week, gasoline fell and then fell back. On November 4, the price was 8179 yuan/ton, and on November 11, the price was 8171 yuan/ton, down 0.09% from last week and up 3.68% from the same period last year.
3、 Future market forecast
In terms of crude oil, macro level, future interest rate increases will slow down or remain uncertain. However, both sides of supply and demand will continue to play games. While supply is tight, demand is also facing challenges brought by economic recession. We will continue to pay attention to the geopolitical situation, the latest OPEC+production policy, the stock dynamics of U.S. crude oil and refined oil, and the impact of global economic conditions on crude oil prices.
At present, the price of crude oil is relatively high, which has certain support for mixed xylene; However, there is still pressure on the supply and demand side, and it is expected that the short-term mixed xylene will continue its weak trend. Pay attention to the market trend of crude oil and gasoline, the impact of mixed xylene and downstream device dynamics, port inventory, and external market on the price of mixed xylene.
| http://www.polyvinylalcohols.com |