China’s domestic price trend of p-xylene was temporarily stable on June 20

On June 20, the PX commodity index was 58.40, unchanged from yesterday, down 42.97% from its peak of 102.40 points in the cycle (2013-02-28), and up 28.21% from its low of 45.55 points on February 15, 2016. (Note: Period refers to 2013-02-01 to date).

According to statistics, the domestic market price trend of p-xylene was temporarily stable on the 20th day. Pengzhou Petrochemical Plant operated steadily in the field. Urumqi Petrochemical Plant started 50% of its operation. Fuhai Aromatic Hydrocarbon Plant started one line. CNOOC Huizhou Refinery and Chemical Plant overhauled. Hengli Petrochemical PX Plant was put into operation. Other units operated steadily temporarily. Since the new plant was put into operation, the domestic market for p-xylene was normally supplied. The price trend of toluene market is stable for the time being. The opening rate of PX plant in Asia is about 80%. On June 19, the closing price of p-xylene in Asia increased by 7 US dollars/ton. The closing price is 788-791 US dollars/ton FOB in Korea and 807-809 US dollars/ton CFR in China. More than 50% of the domestic units need to be imported. The rise of foreign prices has a positive impact on the domestic market price of p-xylene. The price trend of p-xylene in the market is stable.

On June 19, WTI crude oil in July fell to 53.76 U.S. dollars per barrel, a decline of 0.14 U.S. dollars. Brent crude oil in August fell to 61.82 U.S. dollars per barrel, a decline of 0.32 U.S. dollars. Crude oil prices declined, which lost some cost support for downstream petrochemical products prices, and the price trend of paraxylene market was temporarily stable. Recently, the textile industry has been stabilizing, PTA price has risen slightly on the 20th day. The average price in East China is raised near 5800-5950 yuan/ton. As of the 19th day, the domestic PTA start-up rate is about 88.5%, the polyester industry start-up rate is about 88.5%, and the downstream production and sales rate remains high. However, PTA market price shocks, and the price of PX market is expected to be low in the later period.