China’s domestic price trend of p-xylene was temporarily stable on June 25

On June 25, 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 25th. Pengzhou Petrochemical Plant operated steadily in the field. Urumqi Petrochemical Plant started 50% of its operation. Fuhai Created Aromatic Hydrocarbon Plant started one line. CNOOC Huizhou Refinery and Chemical Plant overhauled. Hengli Petrochemical PX Plant went 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%. The closing price of PX plant in Asia is 9.5 US dollars/ton on June 24. The closing price is 816-818 US dollars/ton FOB Korea and 835-837 US dollars/ton CFR China. More than 50% of PX plant in China need to be imported. The rise of foreign price has a positive effect on domestic market price of paraxylene. The price of paraxylene in Asia is stable temporarily.

On June 24, the price of WTI crude oil in August rose to 57.90 US dollars per barrel, an increase of 0.47 US dollars. Brent crude oil in August fell to 64.86 US dollars per barrel, a decrease of 0.34 US dollars. The rising trend of crude oil price has a cost supporting effect on the price of downstream petrochemical products. The price trend of paraxylene market is temporarily stable. Recently, the textile industry has stabilized temporarily, PTA price has risen on 24 days. The average price of East China is raised near 6050-6150 yuan/ton. As of 24 days, the domestic PTA start-up rate is about 93.5%, the polyester industry start-up rate is about 90%, and the downstream production and sales rate remains high. However, PTA market price shocks, and the price of PX market is expected to remain volatile in the later period.