Price Trend
According to the data of business associations, the domestic xylene market as a whole was weak last week. The price of xylene fell compared with last week. At the beginning of the week, the prices of enterprises fell and stabilized over the weekend. At the beginning of the week, the average price of enterprises was 5 425 yuan per ton per week, while at the end of the week, the average price of enterprises was 5 314 yuan per ton per week, with a decline of 2.03%.
| Melamine |
II. Analytical Review
1. Products: Xylene market prices fell earlier this week. Due to the impact of Dragon Boat Festival holidays on the weekend, the mainstream market turnover is around 5250 yuan/ton. Xylene production enterprises are facing losses. Port stocks in eastern China are around 747,700 tons, down about 53,000 tons from 80,000 tons on Thursday, May 30.
2. Industrial chain:
Upstream, affected by the increase in U.S. crude oil inventories and trade wars, European and American crude oil futures fell to their lowest level since January this week. Brent crude oil range was between $60.63 and $64.49 per ton, with a weekly decline of about 5.99%.
| EDTA |
On the downstream side, the current domestic market price trend for p-xylene is declining, downstream PTA plant is unstable, upstream cost surface oil prices continue to decline, naphtha and MX are difficult to support, cost demand is double negative, short-term PX price is weak; on the OX market, the overall market for o-phenyl is mixed, and the fall in June execution price of Sinopec Neighbouring Benzene releases the pressure on the decline of o-phenyl. However, the overall market of Phenyls weakened, and the future market of Phenyls was weak and stable. Overall demand is constrained by the rise in xylene market prices.
3. Future Market Forecast
| Azodicarbonamide (AC foaming Agent) |
Analysts of Xylene Branch of Business Society and Chemical Industry believe that in general, the toluene market is still expected to be weak in the next two weeks. Focus on whether US crude oil can sustain $50/barrel, vulnerable shocks are more likely; downstream PX devices start up, the market mainly focuses on Sinochem Hongrun PX devices start up, but at present other major downstream purchasing intentions are general, the buying atmosphere is insufficient, inventory continues to be high, the market is in a stalemate stage, demand is still the main factor. The xylene market may be able to stop falling and rising when downstream units start to operate in the later stage.