China’s domestic p-xylene price trend is stable in September

Domestic price trend:

According to statistics, in September, the domestic price of p-xylene was stable. At the beginning of the month, the domestic price was 4600 yuan / ton. At the end of the month, the domestic PX market price was 4600 yuan / ton. The price trend was stable, with a year-on-year decrease of 30.30%. The external price of PX was slightly lower. The domestic PX market was highly dependent on foreign countries. The decline of external price had a negative impact on domestic prices.

In recent years, the domestic market price trend of p-xylene is temporarily stable. The domestic PX operating rate is about 60%. Sinochem Hongrun Petrochemical Co., Ltd. has put into operation a 600000 ton new unit, Yangzi Petrochemical plant has been running stably, fuhaichuang plant has been operating in one line, Pengzhou petrochemical plant has been running stably, Yangzi Petrochemical plant has been operating normally, Jinling Petrochemical plant has been running smoothly, Qingdao Lidong unit has been operating at full load, Qilu Petrochemical Company has been operating steadily The operation of the unit is stable. The start-up of Urumqi petrochemical plant is about 50%. The domestic supply of p-xylene is normal. Affected by crude oil price fluctuation, the domestic PX market price trend is stable. The international crude oil price fluctuated in September, while the external price of PX decreased slightly. As of the 29th, the closing prices in Asia were 512-514 USD / T FOB Korea and 530-532 USD / T CFR China. Recently, the operation rate of PX units in Asia was about 60%. The supply of PX goods in Asia was normal, and the closing price of PX was slightly lower Xylene market price trend is stable.

The international crude oil price fluctuated around us $40 / barrel in September. As of the 29th, the settlement price of main contracts in WTI crude oil futures market in the United States was 39.29 US dollars / barrel, while that of Brent crude oil futures market was 41.56 US dollars / barrel. The oil price fell, mainly due to the sharp increase of epidemic cases in Europe and the United States, and the market demand for fuel was broad All over the world, crude oil prices remained volatile, and the price trend of p-xylene market was stable.

In September, the price trend of downstream PTA market dropped sharply, and the domestic PTA spot market market declined. As of the end of the month, the average price of PTA market was about 3350 yuan / ton, and the PTA price in September dropped by 7.92%. In September, several PTA units scheduled to be overhauled in September were delayed, but the continuous restart of multiple units led to the PTA start-up load returning to more than 90%. The spot supply is still loose, and the intermittent high production and sales of polyester in the downstream has a very limited effect on PTA market. The market lacks of good, the market mentality is not good, and the buying and selling atmosphere turns weak. In the traditional sales peak season of “Jinjiu Yinshi”, the polyester factory was in a disadvantageous situation of loss and high inventory. The weak terminal demand led to the insufficient quality of “Jinjiu” and the poor downstream market. The price trend of p-xylene in September was stable.

Chen Ling, PX analyst of business agency, believes that PTA will resume some maintenance units in the short term, and the maintenance plan of some units is delayed. In terms of demand, polyester starts to operate at a high level. However, there is a load reduction expectation in October. Therefore, it is necessary to reduce the purchase of raw materials. In addition, crude oil prices are facing the risk of falling. It is predicted that the market price of p-xylene in October will fall.