According to statistics, in 2020, the domestic market price trend of p-xylene dropped significantly. The average price at the beginning of the year was 6900 yuan / ton, the average price in June was 4100 yuan / ton, and the half year drop was 40.58%. From the price trend chart, it can be seen that the highest point of domestic PX price appeared at the beginning of the year, the highest price was 6900 yuan / ton, the lowest price appeared in May, and the lowest price was 4000 yuan / ton. In May, PX market price made history new low point.
| Chitosan oligosaccharide |
Domestic PX products are petrochemical products with high external dependence. According to data statistics in 2019, PX external dependence is as high as 45%. External price is an important factor affecting the domestic market price of p-xylene. In the first half of 2020, the external price trend of PX is as follows:
It can be seen from the trend chart of PX domestic price and external market price that the PX market price dropped sharply in the first half of 2020, almost showing a unilateral downward trend, with a drop of 40.58% in the first half of 2020, mainly due to the joint influence of domestic and international.
From the perspective of PX itself, in 2020, the domestic PX operation rate will be about 70%, Sinochem Hongrun Petrochemical’s 600000 ton new unit will be put into operation, Yangzi Petrochemical’s unit will operate stably, Fuhai Chuang’s unit will start a line, Pengzhou Petrochemical’s unit will operate stably, Yangzi Petrochemical’s PX unit will operate normally, Jinling Petrochemical’s unit will operate stably, Qingdao Lidong’s unit will operate at full load, Qilu Petrochemical’s unit will operate stably, and Urumqi Petrochemical’s unit will operate stably About 50% of petrochemical plants in lumuqi have been started, Hengli petrochemical plant is in normal operation, and domestic p-xylene supply is sufficient. However, due to the impact of domestic public health events in the first quarter of 2020, the domestic textile industry is almost closed, domestic enterprises have started relatively low, and the PX Market price keeps falling. In the later period, domestic production resumed gradually, but Europe and the United States were affected, domestic exports were hit, and PX products still fell sharply. It can be clearly seen from the trend chart of the external price that the external price has declined sharply, and the closing price in Asia has declined from 840 US dollars / ton at the beginning of the year to about 500 US dollars / ton in June. The sharp decline of the external price is a huge negative impact on the domestic xylene market.
The price of upstream raw crude oil and mixed xylene is also the influencing factor of domestic market price trend of p-xylene. According to the inspection of business agency, the price trend of crude oil market in the first half of 2020 dropped sharply, the price of crude oil at the beginning of the year was 61.68 USD / barrel, the price of crude oil as of June 17 was 38.38 USD / barrel, and the decline in the first half of 2020 was 37.78%. The price of crude oil dropped sharply for PX market The formation of a larger negative. At the same time, the price of upstream mixed xylene also fell sharply. From the trend chart, it can be seen that the price of mixed xylene fell by as much as 33.39% in the first half of the year. The upstream raw materials fell sharply, leaving the domestic market of p-xylene empty, and the domestic price fell sharply.
97% of PX in China is used for PTA production. Comparing the price trend of px-pta in 2020, it is obvious that the price trend of PX and PTA in the whole year is quite similar. The market price of PX and PTA in China has declined. However, with the impact of the collapse of international crude oil price, the market price of PX and PTA has declined significantly. In the first half of 2020, the market of textile industry is in a weak state. Domestic textile enterprises are greatly impacted. The domestic textile industry demand is poor, and the domestic PX market price is greatly affected.
| EDTA 2Na |
There are two production processes for PX, one is naphtha as the main raw material, the other is MX as the main raw material. In 2020, the market of producing PX with naphtha as raw material is acceptable, but the production of PX with MX as raw material is in a loss stage. The profit trend of production and supply from MX is as follows:
As can be seen clearly from the figure, mx-px production process will almost lose 50 US dollars / ton in 2020, and the negative profit will become the new normal in 2020. The domestic market of p-xylene will not improve, and the market price of PX will drop sharply in 2020.
In the future, the price of crude oil has increased recently, but the economy of Europe and the United States is still limited to some extent. In addition, with the end of the sales peak season of the textile industry, Chen Ling, an analyst of PX business agency, believes that with the gradual increase of PX self-sufficiency rate, the domestic import volume will be greatly reduced, and the domestic supply and demand will be improved. However, the overall supply of PX in Asia has been surplus, and PX export countries such as Japan and South Korea are under great pressure It is very likely that the profit will be sold to China and the price will be compared with domestic enterprises. However, PX production loss will remain high. Therefore, PX will remain weak in the second half of 2020. PX’s low profit and even loss will become the norm. It is difficult for the domestic market price of p-xylene to rise sharply.
| EDTA |